Ecobank Group Reports $398m Pre-tax Profit, $1.1bn Net Revenue In H1

Ecobank Group’s unaudited financial results for the first half (H1) of 2025 show a profit before tax of $398 million and net revenue of $1.1 billion.

The Group’s results, released on the Nigerian Exchange, showed strong growth and improved efficiency despite economic challenges in key markets. Gross earnings grew nine per cent to $1.482 billion from $1.362 billion in H1 2024, while net revenue was up by 12 per cent to $1.117 billion from $993.977 million.
Operating profit before impairment rose by 23 per cent year-on-year to $568.1 million. Profit before tax increased by 23 per cent to $398.5 million against $324.093 million, while profit after tax also advanced by 23 per cent to $278.8 million compared to $227.277 million in H1 2024.

Customers’ loans and advances rose by 11 per cent yearly to $11.0 billion, while deposits rose 17 per cent to $23.9 billion. The Group’s total assets appreciated by 15 per cent to $32.0 billion.

Speaking on the performance, Ecobank Group’s chief executive officer, Jeremy Awori, said, “ Our half-year results reflect strong execution of our Growth, Transformation, and Returns (GTR) strategy and the resilience of our diversified pan-African business model.

“Despite a challenging macroeconomic environment, we delivered a 23 per cent increase in profit before tax year-on-year to $398 million, while Return on Tangible Equity reached 30.5 per cent.

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“For the first time in over a decade, we reduced our Group-wide cost-to-income ratio to below 50 per cent through strong revenue growth, disciplined cost management, and operational efficiency.”

He noted that “our Consumer and Commercial Banking businesses continued to build momentum, generating $3.4 billion in new deposits, 83 per cent of which were low-cost CASA accounts. We enhanced our Corporate and Investment Banking capabilities, improved profitability across our major markets, and saw encouraging performance in the CESA region. These results validate our commitment to scaling with discipline and sharpening our customer focus across our network.”

Awori added, “We also made meaningful investments in technology, distribution, and customer experience, rolling out hundreds of new ATMs, enhancing our mobile and business apps, and growing our Xpress Point agency banking network.

“Furthermore, we invested in advanced loan management systems, transaction banking platforms, and wealth management solutions to ensure our customers receive world-class products and services.”

He disclosed, “As we look ahead to the second half of 2025 and the Group’s 40th anniversary, we remain committed to delivering world-class financial services, deepening inclusion, and unlocking long-term value for our customers, partners, and communities across Africa.”