Ecobank Reports $122.5 Million Q1 Profit as Revenue and Operating Income Expand Across Key Markets

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, grew profit before tax by 17% year-on-year to $175 million in the first quarter (Q1) 2025.

In the unaudited financial statement released on Wednesday gross earnings rose by 2% to $690 million, with revenue advancing 4% to $516.3 million.

In local currency terms, gross earnings and revenue rose by 17% and 19% to ₦1.05 trillion and ₦788.7 billion, respectively.

Ecobank’s operating income before impairment charges rose 9% year-on-year to $249.8 million, a 24% increase in naira terms.

Profit after tax also rose 17% to $122.5 million or ₦187.1 billion, an increase of 33% in naira terms.

This was supported by robust non-interest income generation and prudent provisioning, positioning the Group for a strong first-half outlook.

Total assets increased by 3% quarter-on-quarter to $28.9 billion (₦44.54 trillion) while loans and advances to customers remained stable at $9.9 billion (₦15.31 trillion).

Customer deposits grew by 5% to $21.5 billion (₦33.21 trillion) on the back of improved customer confidence and successful deposit mobilization strategies across retail and corporate banking segments.

Total equity rose by 8% to $1.9 billion (₦3 trillion) as retained earnings, improved profitability and stable capital adequacy across subsidiaries continued to support operations.

Ecobank operates in over 30 African countries and leverages its multi-channel distribution strategy, regional integration and digital banking platforms to deepen financial inclusion and cross-border banking services.

Management reaffirmed its focus on strengthening liquidity buffers, improving credit risk governance, and enhancing digital capabilities to sustain profitability in a dynamic regulatory and economic environment.

Although headwinds persist, including foreign exchange pressures and regional political uncertainties, the Group remains well-positioned to deliver double-digit return on equity (ROE) for the full year, anchored on robust earnings and disciplined balance sheet management.