…Group profit after tax attributable to ETI shareholders was $194 million for the first six months of 2025
…Net revenues (the sum of the net interest income (NII) and non-interest revenue (NIR)) were $1,117 million in the first six months of 2025.
…Net interest income was $624 million for the first six months, ending 30 June 2025, and the increase was 12% or 15% in constant currency
TUE JULY 29 2025-theGBJournal| Ecobank Group on Tuesday topped analysts’ estimates on better-than-expected revenue in 1H 2025 from its Consumer and Commercial Banking as well as Corporate and Investment Banking businesses.
The Group’s Consumer and Commercial Banking businesses generated $3.4 billion in new deposits, 83% of which were low-cost CASA accounts as it continued to build momentum.
Similarly, its Corporate and Investment Banking capabilities, improved profitability across major markets, and saw encouraging performance in the CESA region.
Ecobank Group, the leading private pan-African financial services group, said that 1H 2025 profit before tax saw a 23% year-on-year increase to $398 million. This strong growth was achieved on the back of improved efficiency and despite economic challenges in key markets.
Group profit after tax attributable to ETI shareholders was $194 million for the first six months of 2025, an increase of 23% or 28% in constant currency.
The increase was primarily due to modest margin expansion driven by lower interest rates paid on interest-bearing deposits, robust client-driven foreign exchange activity, asset liability management actions, and higher payment fees.
The Group’s Corporate and Investment Banking (CIB) profit before tax was reported at $323 million, up 44% or 42% in constant currency, driven by positive operating leverage (revenue growth outpaced expense growth) and lower impairments.
Consumer and Commercial Banking (CCB) profit before tax was $216 million, up 10% or 18% in constant currency, driven by positive operating leverage, partially offset by higher impairment charges.
Consumer Banking (CSB) profit before tax was $91 million, up 12% or 22% in constant currency.
Commercial Banking (CMB) profit before tax was $125 million, up 8% or 15% at constant currency.
Net interest income was $624 million for the first six months, ending 30 June 2025, and the increase was 12% or 15% in constant currency.
Interest earned on interest-earning assets rose 7% to $956 million, reflecting an increase in interest income from higher average balances in treasury bills and consumer loans, especially in CCB, partially offset by lower revenue from investment securities in CIB, particularly in the UEMOA region.
Similarly, non-interest revenues (NIR) were $492 million for the first six months ended 30 June 2025, increasing 13% or 16% in constant currency.
Meanwhile, Group gross impairment charges on loans and advances for the first six months ended 30 June 2025 were $176 million compared with $182 million in the prior year.
The bank said the current period’s lower impairment charge reflects the building of reserves, including macro-central overlays for emerging portfolio risks.
Loans recovered, and the releases of previously booked impairment reserves for expected credit losses amounted to $54 million, a decrease of $18 million from the prior year period.
The net impairment charge on loans and advances was $122 million compared with $110 million the previous year. Group impairment charges on other financial assets (aside from loans and advances) increased by $20 million to $48 million.
Net revenues (the sum of the net interest income (NII) and non-interest revenue (NIR)) stood at $1.117 billion in the first six months of 2025, increasing by 12% or 16% in constant currency, driven by the modest margin expansion from lower funding costs, an increase in the average balances of investment securities in the CIB business in UEMOA, and substantial non-funded related fees.
The Group reported earnings per share (EPS) at 0.79 US cents, an increase of 23% year-on-year (YoY).
CEO Jeremy Awori touted his bank’s results and ability to enhance Return on Tangible Equity, which rose 30.5% while reducing Group-wide cost-to-income ratio to below 50%, through strong revenue growth, disciplined cost management, and operational efficiency.
”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,” Awori added.
Nigeria
ETI reported profit before tax of $9 million ($6 million in 2024) for the first six months ended 30 June 2025 from its Nigeria operation, a 45% or 76% increase in constant currency.
Net revenues rose 10% to $74 million increase while Net interest income came in at $51 million, a 28% or 50% rise in constant currency.
Operating expenses fell to $50 million, compared with $52 million in the prior year period, a decrease of 5%.
Impairment charges on financial assets were $15 million compared with $9 million in the prior year, reflecting an increase of 77% or 121% in constant currency. The increase was driven by proactive and prudent measures to build credit reserves.
Ratings agency Moody’s recently affirmed Ecobank TransnaÂtional IncorporatÂed’s (ETI) B3/Not Prime long- and short-term issuer ratings; B3 senior unseÂcured debt rating; b2 notional Baseline Credit Assessment (BCA); and b1 Adjusted BCA based on the Bank’s resilient financial performance.
The rating analysts at Moody’s also changed the outlook on the group’s long-term issuÂer and senior unsecured debt ratings to stable from negative, and noted Ecobank’s total assets of $28.9 billion as of March 2025.
Awori said, against the backdrop of the stellar results, his bank remains committed to delivering world-class financial services, deepening inclusion, and unlocking long-term value for our customers, partners, and communities across Africa, as he looks ahead to the second half of 2025 and the Group’s 40th anniversary.
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