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

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

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

Corporate and investment banking, as well as commercial and consumer banking, contributed equally to this success. Ecobank's payments and digital businesses are also driving growth. The company's performance remained diversified across regions and businesses. Ecobank CEO Jeremy Awori commented on the strong results, expressing confidence in the company's future, despite facing macroeconomic and geopolitical headwinds.

Ecobank continued to expand internationally, opening a new representative office in Beijing and signing a protocol with the Chinese Cross-Border Interbank Payment System. Additionally, the company celebrated its 40th anniversary with a US$2.6 billion commitment to women-owned businesses and agriculture across Africa. Ecobank received prestigious awards at the Global Finance Awards, including Best Bank in Africa 2026 and World's Best Frontier Markets Bank 2026.