Ecobank, a pan-African banking group, has announced its financial results for the first nine months of 2026, showcasing a continued growth trajectory. Despite a challenging macroeconomic and geopolitical environment, the group reported a 12% increase in net banking income to $2 billion and a 12% rise in pre-tax profit to $737 million. This performance underscores the resilience and solid foundation of the group.
The group's operational efficiency has continued to improve, with an operating cost-to-income ratio of 47.8%, surpassing its 2026 target of 48-50%. This achievement reflects the success of Ecobank's efforts to optimize operations and enhance efficiency across the organization. Customer deposits grew by 14% year-on-year to $27.5 billion, demonstrating the trust and confidence of clients in the group.
Ecobank's performance remains diversified across geographical regions and business lines. The group reported a 20% increase in pre-tax profit in Central, Eastern, and Southern Africa (CESA) and a 10% growth in Anglophone West Africa (AWA). These results were supported by the contributions of the Corporate and Investment Banking (CIB) and Commercial Banking (CCB) segments.
The group's diversified economic model has contributed to its resilience, with various business segments and regions delivering solid performances. Payment and digital banking services remain key growth drivers, with payment income increasing by 9% year-on-year. This growth is attributed to Ecobank's continued investments in technological infrastructure and digital platforms.
Jeremy Awori, Ecobank's Group Chief Executive, commented on the results, highlighting the group's solid performance and progress in implementing its Growth, Transformation, and Returns (GTR) strategy. Awori emphasized that the group's efficiency improvements and client portfolio development are in line with its strategic objectives.
The group's risk management discipline is reflected in its stable non-performing loan (NPL) ratio, which remained within the target range of 6-8% for 2026. Ecobank's solid deposit base, liquidity position, and capital buffers have enabled it to navigate the challenging operating environment.
Looking ahead, Ecobank remains cautious about potential risks, including energy price fluctuations, inflationary pressures, and exchange rate volatility. However, the group's solid foundation and diversified business model position it for continued growth and resilience in the face of these challenges.
Key points
- Ecobank's net banking income reached $2 billion, up 12% year-on-year.
- The group's pre-tax profit increased by 12% to $737 million.
- Customer deposits grew by 14% to $27.5 billion, reflecting the trust and confidence of clients in the group.
