Ecobank Group has announced its financial results for the first nine months of 2026, showcasing a continued growth trajectory. The group reported a net banking income of $2 billion, representing a 12% year-on-year increase. Pre-tax profit also rose by 12% to $737 million. These results demonstrate the group's solid performance despite a challenging macroeconomic and geopolitical environment. The growth is attributed to ongoing efforts in operational optimization, deposit mobilization, technological investments, and the rigorous implementation of the group's Growth, Transformation, and Returns (GTR) strategy.
The group's operational efficiency continued to improve, with an operating coefficient of 47.8%, surpassing the 2026 target of 48-50%. Customer deposits grew by 14% year-on-year to $27.5 billion, reflecting clients' confidence in the bank and the solidity of Ecobank's deposit base. The performance across different regions and business lines remains diversified, with significant contributions from the Corporate and Investment Banking (CIB) and Commercial Banking (CCB) segments.
In terms of regional performance, Ecobank saw a 20% increase in pre-tax profit in Central, Eastern, and Southern Africa (CESA) and a 10% increase in Anglophone West Africa (AWA). These gains offset more moderate performances in Francophone West Africa (UEMOA) and Nigeria. The pan-African model's resilience is evident in its ability to absorb performance disparities across different markets.
The bank's investment in digital platforms and payment systems has also yielded positive results. Revenues from payment activities increased by 9%, driven by continuous investments in technological infrastructure and digital platforms aimed at enhancing customer experience and accelerating financial inclusion.
Jeremy Awori, Ecobank's Group Chief Executive, highlighted the bank's achievements, stating that the $737 million pre-tax profit represents a 12% year-on-year increase. He also noted that the net banking income rose by 12% to $2 billion and that the bank's return on tangible equity stood at 24.9%.
Awori further emphasized the bank's focus on operational efficiency and client portfolio development, which has led to a more favorable operating coefficient. He also pointed out that the 14% growth in customer deposits to $27.5 billion, with 85% consisting of current accounts and savings accounts, reflects clients' trust in Ecobank for their daily banking operations.
Looking ahead, Awori acknowledged potential risks such as energy price fluctuations, inflationary pressures, and exchange rate volatility. However, he expressed confidence in Ecobank's solid deposit base, liquidity position, and capital strength, which, combined with the development of new offers and client solutions, will enable the bank to maintain its growth trajectory while prudently managing risks.
Key points
- Ecobank's net banking income reached $2 billion, a 12% increase year-on-year.
- The bank's pre-tax profit was $737 million, also up 12% year-on-year.
- Customer deposits grew by 14% to $27.5 billion, reflecting strong client confidence.
