Ecobank reports $423 million profit before tax in first half of 2026

The pan-African banking institution achieved a 15 percent rise in net revenue, reaching $1.28 billion, driven by strong performance across its business divisions, treasury operations, and deposit mobilization. Profit attributable to shareholders grew by two percent to $198 million, and tangible book value per share increased by 24 percent year-on-year to 7.51 US cents. Jeremy Awori, Chief Executive Officer of Ecobank Group, attributed these results to the bank's "Growth, Transformation and Returns strategy," operational efficiency, diversification, and customer focus.

He highlighted net revenue growth in Corporate and Investment Banking, and Commercial and Consumer Banking, fueled by treasury solutions, trade finance, and payments. The bank also issued a $450 million Tier 2 Sustainable Agriculture and Natural Capital Bond on the London Stock Exchange in June, which was oversubscribed by nearly four times, attracting over $1.36 billion in demand from international and African investors. Customer deposits expanded by 13 percent year-on-year to $26.99 billion, with low-cost current and savings accounts making up 85 percent of the total.

Asset quality improved, with non-performing loans decreasing by 21 percent year-to-date to $945 million, lowering the NPL ratio from 9.4 percen