Onome Amuge
Ecobank Transnational Incorporated (ETI), the parent company of the pan-African Ecobank Group, has reported a 17 per cent year-on-year increase in profit before tax to $175 million for the first quarter of 2025, benefiting from favourable currency translation effects.
The unaudited financial statement released recently showed gross earnings rising by two per cent to $690 million, with revenue advancing by four per cent to $516.3 million. However, in local currency terms, reflecting the impact of currency movements across its diverse operating markets, gross earnings and revenue saw more substantial increases of 17 per cent to N1.05 trillion and 19 per cent to N788.7 billion, respectively.
Ecobank’s operating income before impairment charges also demonstrated strong growth, rising by nine per cent year-on-year to 249.8 million, which translates to a 24 per cent increase in naira terms.
Profit after tax mirrored the pre-tax performance, also rising by 17 per cent to 122.5 million, or N187.1 billion, representing a 33 per cent increase in naira terms. The bank attributed this positive performance to robust non-interest income generation and prudent provisioning, setting the stage for a strong first-half outlook.
The group’s total assets saw a quarter-on-quarter increase of three per cent to 28.9 billion (N44.54 trillion), while loans and advances to customers remained stable at 9.9 billion (N15.31 trillion).
Customer deposits experienced a five per cent growth to 21.5 billion (N33.21 trillion), driven by improved customer confidence and successful deposit mobilisation strategies across both retail and corporate banking segments.
Total equity strengthened by eight per cent to 1.9 billion (N3 trillion), supported by retained earnings, improved profitability, and stable capital adequacy across its various subsidiaries.
Operating across more than 30 African countries, Ecobank leverages its multi-channel distribution strategy, regional integration, and digital banking platforms to deepen financial inclusion and facilitate cross-border banking services.
Management reaffirmed its strategic focus on strengthening liquidity buffers, enhancing credit risk governance, and bolstering digital capabilities to sustain profitability in a dynamic regulatory and economic landscape.
Despite acknowledging persistent headwinds, including foreign exchange pressures and regional political uncertainties, the group remains optimistic about its full-year prospects. Ecobank stated it is well-positioned to deliver double-digit return on equity (ROE) for 2025, underpinned by robust earnings and disciplined balance sheet management.
