Ecobank Group has announced unaudited financial results for the first half of 2025, reporting a 23% 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%, the best performance in more than a decade, as net revenue grew 12% year-on-year to $1.1 billion. Customer deposits surged by $3.4 billion during the year to $23.9 billion, with 83% 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 rise 44% to $323 million, driven by improved asset and liability management and client demand for foreign exchange and trade finance services. Consumer and Commercial Banking delivered a 10% increase in profit before tax to $216 million, with continued growth across small and medium enterprises, high-value individuals.

Regional performance was strong across the Group's markets. Profit before tax in the Francophone West Africa region rose 12% to $176 million. Anglophone West Africa delivered $175 million in profit before tax, a 19% increase driven by Ghana's positive performance. In Nigeria, profit before tax improved 45%, showing signs of a turnaround despite economic challenges. Central, Eastern and Southern Africa recorded a 27% rise in profit before tax to $207 million.

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

The group has strengthened 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 advance data architecture, security and scale payment innovation.

Awori said the Group made meaningful investments in technology, distribution and customer experience, rolling out 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.