Ecobank Group profit before tax hits US$737 million for first nine months of 2026

Ecobank Group reported a profit before tax of US$737 million for the first nine months of 2026, marking a 12% increase year-over-year. Net revenue rose by 12% to US$2 billion. The company's focus on operational efficiency, customer deposit growth, technology investments, and disciplined execution of its Growth, Transformation, and Returns (GTR) strategy drove this growth.

Ecobank's balance sheet strengthened with deposits reaching US$27.5 billion, maintaining a strong liquidity and capital position. The cost-to-income ratio improved to 47.8%, exceeding the 2026 target range of 48% to 50%. Profit before tax increased in Central, Eastern, and Southern Africa (CESA) by 20% and in Anglophone West Africa (AWA) by 10%, while softer results were seen in Francophone West Africa (UEMOA) and Nigeria.

Performance remained diversified across regions and businesses, with the corporate and investment banking and commercial and consumer banking sectors contributing balanced growth. Key factors supporting the results included a 9% increase in payment revenue, driven by technology and digital platform investments, and a 14% growth in customer deposits.

Ecobank's CEO, Jeremy Awori, highlighted the company's resilience and its strategic investments, while acknowledging ongoing risks from energy prices, inflation, and foreign exchange volatility. The company also expanded its international presence with the opening of a Beijing Representative Office and signing a protocol with the Chinese Cross-Border Interbank Payment System (CIPS).

During the quarter, Ecobank celebrated its 40th anniversary, committing US$2.6 billion to support women-owned businesses and agriculture across Africa, and was recognized with several prestigious awards at the Global Finance Awards.