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 London Stock Exchange, the world's first International Capital Market Association (ICMA) designated Nature Bond issued by a commercial bank.

The issuance was nearly four times oversubscribed, attracting more than US$1.36 billion in demand from African and international investors. The proceeds will support sustainable agriculture, natural capital, and water infrastructure across 24 markets.

Key Highlights

• Net revenue increased by 15% year on year to US$1.3 billion, demonstrating strong business momentum despite macroeconomic and geopolitical headwinds.
  
• Profit before tax rose by 6% to US$423 million, reflecting disciplined execution, improved efficiency, and a prudent approach to risk management.
  
• Operational efficiency strengthened, with the cost to income ratio improving to a record 48.4%, customer deposits reaching US$27 billion, and capital levels remaining strong.
  
• Digital and payments momentum continued, with the value of digital transactions rising by 33% to US$78.5 billion and payment revenue growing by 10% to US$156 million.

Group CEO on First Half Performance

Commenting on the results, Group Chief Executive Jeremy Awori noted that despite global political tensions pushing up energy prices, Ecobank remained focused on strategic efficiency measures and putting customers first as it implemented its transformation agenda.

"In line with our strategy, we made disciplined investments in the tools, systems, and talent that help our people work smarter, strengthen operational efficiency, drive sales and deliver better outcomes for customers across the Group," he added.

Mr. Awori noted that the Group will continue to invest in its technology foundation to scale its payments, data, and digital services, with support from its strategic partnership with Google Cloud to accelerate execution.

In 2026 alone, Ecobank received numerous accolades, including Global Finance's Best Bank in Africa and World's Best Frontier Markets Bank awards. The Group was also named African Bank of the Year at the African Banker Awards 2026 and received the Gender Leader Award at the Africa CEO Forum Awards 2026.

According to the Group, these recognitions reflect Ecobank's commitment to excellence, innovation, inclusion, and sustainable value creation for all its stakeholders.