Ecobank Group builds momentum in first half of 2026 as PBT increases to US$423 million

Ecobank Group, the leading pan-African banking group, has announced its financial results for the first half of 2026, delivering a resilient performance despite a challenging operating environment marked by geopolitical and macroeconomic pressures. The Group reported net revenue of US$1.3 billion, up 15% year on year, and profit before tax of US$423 million, up 6%, supported by disciplined execution, operational efficiency, and the strength of its diversified pan-African franchise. Alongside this growth, the Group improved operational efficiency, with its cost to income ratio reaching a record low of 48.4%.

The growth in net revenue was underpinned by strong performances across both Corporate and Investment Banking and Consumer and Commercial Banking. Non-interest revenue continued to provide resilience, accounting for more than 41% of total revenue, while return on average tangible equity (ROTE) remained robust at 21.1%. The Group also strengthened its position as one of Africa’s leading payments banks.

Payment revenue grew by 10%, driven by higher wholesale payment volumes, increased merchant acquiring activity, and continued growth in card-based services. Meanwhile, the value of digital transactions rose by 33%, reflecting sustained customer adoption of Ecobank’s digital platforms and payment solutions. Performance showed broad based growth across Ecobank’s diversified pan-African network.

Central, Eastern and Southern Africa (CESA) delivered the strongest performance, with net revenue increasing by 20% to US$470 million, while Anglophone West Africa (AWA) recorded a 16% increase in net revenue to US$372 million. Francophone West Africa (UEMOA) remained resilient, with net revenue rising by 6% to US$382 million. Nigeria recorded net revenue growth of 23%, while the Group continued to take steps to strengthen asset quality.

Customer confidence in the Group continued to strengthen during the period, with customer deposits increasing by US$3.1 billion year on year to US$27 billion. Low cost current and savings account (CASA) deposits now account for 85% of total deposits, supporting improved funding costs, while the Group maintained strong capital and liquidity buffers to support lending and future growth. During the period, Ecobank further strengthened its sustainability leadership through the successful issuance of a US$450 million Nature Bond on the Lond…