Ecobank Group has reported continued growth in its financial results for the first nine months of 2026, despite an operating environment characterised by inflationary pressures, foreign exchange volatility and slower economic activity in parts of Africa.
The Group reported profit before tax of US$737 million, up 12% year-on-year, while net revenue increased 12% to US$2.0 billion. Growth was supported by a continued focus on operational efficiency, customer deposit mobilisation, technology investments and disciplined execution of the Group’s Growth, Transformation and Returns (GTR) strategy.
Ecobank continued to strengthen its balance sheet, with customer deposits growing to US$27.5 billion while maintaining a strong liquidity and capital position. The Group’s cost-to-income ratio improved to 47.8%, ahead of its target range of 48% to 50%, reflecting ongoing efficiency initiatives across the business.
Performance was supported by Ecobank’s diversified business model and geographic footprint. Central, Eastern and Southern Africa (CESA) delivered a 20% increase in profit before tax, while Anglophone West Africa (AWA) recorded 10% growth, offsetting softer results in Francophone West Africa (UEMOA) and Nigeria.
These results demonstrate the resilience of the group’s franchise across multiple markets. The Group also continued to benefit from balanced contributions from its corporate and investment banking and commercial and consumer banking businesses.
Ecobank’s payments and digital businesses remained important growth drivers. Payment revenue increased by 9%, supported by sustained investment in technology platforms and digital capabilities designed to enhance customer experience and expand financial inclusion across Africa.
Key highlights
- Net revenue increased 12% year-on-year to US$2 billion, while profit before tax increased 12% year-on-year to US$737 million, demonstrating strong business momentum despite macroeconomic and geopolitical headwinds.
- Operational efficiency continued to improve, with the cost-to-income ratio reaching 47.8%, ahead of the Group’s 2026 target range.
- Customer deposits increased 14% year-on-year to US$27.5 billion, demonstrating strong customer confidence and the strength of Ecobank’s deposit franchise.
- Performance remained broadly diversified across regions and businesses, with CESA increasing profit before tax by 20% and AWA by 10%, complemented by contributions from both corporate and investment banking and commercial and consumer banking.
Group CEO on financial performance
According to Group CEO Jeremy Awori, “We achieved a profit before tax of $737 million, an increase of 12% year-on-year, and a return on tangible equity of 24.9%. Net revenue also grew by 12%, reaching $2.0 billion.”
He added that “Our Growth, Transformation, and Returns strategy is clearly reflected in our efficiency and franchise performance.
He also stated that the Group’s cost-to-income ratio was 47.8%, ahead of its 2026 target range of 48% to 50%. Customer deposits rose 14% to $27.5 billion, with current and savings accounts accounting for 85% of the total.
“This reflects the confidence and trust our customers have in us and in using us for their day-to-day banking. This growth has helped mitigate margin pressure from the rate-easing cycle in our markets, lifting net interest income by 12%. Payment revenue also rose 9%, supported by our continued investment in technology and digital platforms. The strength of our diversified business model was evident as profit before tax increased by 20% in Central Eastern and Southern Africa (CESA) and by 10% in Anglophone West Africa (AWA), offsetting softer results in Francophone West Africa (UEMOA) and Nigeria,” he explained.
Awori added, “Our non-performing loan (NPL) ratio remained broadly stable during the quarter at 7.5%, which is within our 2026 target range of 6% to 8%, reflecting continued discipline in portfolio and risk management.”
In conclusion, Awori remarked, “Energy prices, inflation, and foreign exchange volatility are real risks as we move through the remainder of the year. However, our strong deposit base, liquidity and capital position, combined with our new products and propositions, position us well to drive further growth while maintaining a disciplined approach to risk. We remain on track to meet our 2026 targets. I want to thank the Ecobank team for their dedication to serving our customers every day.”
Continued momentum beyond financial performance
During the quarter, Ecobank continued to strengthen its international presence through the opening of its new Beijing Representative Office premises and the signing of a protocol with the Chinese Cross-Border Interbank Payment System (CIPS).
The Group also concluded its Ecobank@40 celebrations with a US$2.6 billion commitment aimed at supporting women-owned businesses and agriculture across Africa.
Ecobank’s leadership was further recognised at the Global Finance Awards during the World Bank and IMF Meetings, where the Group received prestigious distinctions, including Best Bank in Africa 2026 and World’s Best Frontier Markets Bank 2026.
These achievements underscore Ecobank’s continued commitment to innovation, customer service and sustainable growth across the continent.