Ecobank Group on Tuesday announced unaudited financial results for the first half of 2025, reporting a 23 per cent year-on-year increase in profit before tax to $398 million.

The Group achieved strong growth and improved efficiency despite economic challenges in key markets. The cost-to-income ratio improved to 49.1 per cent, the best performance in more than a decade, as net revenue grew 12 per cent year-on-year to $1.1 billion.

Customer deposits surged by $3.4 billion during the year to $23.9 billion, with 83 per cent held in low-cost current and savings accounts—clear evidence of customers’ growing confidence in the Group.

“The group’s financial performance for the first half of 2025 demonstrated resilience in the face of macroeconomic uncertainties. They showcased the advantages provided by the Group’s diversified business model and the effectiveness of our Growth, Transformation, and Returns (GTR) strategy,” said Jeremy Awori, Chief Executive Officer, Ecobank Group.

The corporate and investment banking division saw profit before tax increase by 44 per cent to $323 million, driven by improved asset and liability management and client demand for foreign exchange and trade finance services. Consumer and Commercial Banking reported a 10 per cent rise in profit before tax to $216 million, with continued growth in small and medium enterprises, high-value individuals.

Regional performance remained strong across the Group’s markets. Profit before tax in the Francophone West Africa region grew by 12 per cent to $176 million. Anglophone West Africa achieved $175 million in profit before tax, a 19 per cent increase driven by Ghana’s positive performance.

In Nigeria, profit before tax increased by 45 per cent, indicating signs of a recovery despite economic challenges. Central, Eastern, and Southern Africa experienced a 27 per cent rise in profit before tax to $207 million.

Asset quality continued to improve, with the ratio of non-performing loans decreasing to 5.7 per cent from 6.7 per cent at the end of 2024. The group maintains capital buffers about 300 basis points above regulatory requirements.

The group has bolstered its digital infrastructure and customer experience capabilities over the past six months. A recently announced partnership with Google Cloud, the first of its kind by an African banking group, aims to enhance data architecture, security, and payment innovation at scale.

Awori said the group has made significant investments in technology, distribution, and customer experience, deploying hundreds of new ATMs and investing in advanced loan management systems, transaction banking platforms, and wealth management solutions.

“As the group approaches its 40th anniversary, we remain committed to delivering world-class financial services, deepening inclusion and unlocking long-term value for customers, partners, shareholders and communities across Africa,” Awori concluded.