Ecobank Transnational Incorporated (ETI) reported a 12 per cent year-on-year increase in profit before tax to $737 million for the nine months ended September 30, 2026, driven by higher revenue and improved operating efficiency.
The pan-African banking group’s earnings release showed that profit before tax rose from $657 million in the corresponding period of 2025, while net revenue increased 12 per cent to $1.96 billion from $1.75 billion.
Profit attributable to ETI shareholders climbed 17 per cent to $364 million from $310 million a year earlier, while earnings per share rose 15 per cent to 1.48 US cents from 1.29 US cents.
Profit after tax increased 13 per cent to $516 million from $454 million in the corresponding period of 2025.
The growth in earnings reflected a 12 per cent increase in net interest income to $1.13 billion and a 12 per cent rise in non-interest revenue to $832 million.
The bank attributed the improvement in net interest income partly to higher balances in current and savings accounts, which helped cushion margin pressure from easing interest rates across its markets.
Ecobank’s customer deposits rose 14 per cent to $27.54 billion from $24.12 billion in September 2025, while gross loans and advances increased six per cent to $12.91 billion from $12.18 billion.
Current and savings account deposits grew 16 per cent to $23.3 billion, accounting for 84.5 per cent of total customer deposits, compared with 83 per cent a year earlier.
The group’s cost-to-income ratio improved to 47.8 per cent from 48 per cent, reflecting revenue growth that offset higher operating expenses. Operating expenses, however, increased 12 per cent to $938 million from $841 million, partly due to higher staff costs and continued investment in technology.
Return on tangible equity stood at 24.9 per cent, compared with 31.2 per cent in the corresponding period of 2025, while tangible book value per share increased 25 per cent to 8.15 US cents.
Regional performance remained uneven, with Central, Eastern and Southern Africa (CESA) recording a 20 per cent increase in profit before tax to $392 million, while Anglophone West Africa (AWA) posted a 10 per cent rise to $337 million.
In Francophone West Africa, profit before tax declined three per cent to $266 million, while Nigeria’s profit before tax fell 45 per cent to $7 million from $13 million a year earlier.
Ecobank Nigeria’s net revenue rose 11 per cent to $126 million, but impairment charges on financial assets increased 60 per cent to $37 million, offsetting gains in operating performance.
Gross loans in the Nigerian business declined six per cent to $1.54 billion, while customer deposits increased 16 per cent to $2.88 billion.
The group’s non-performing loan ratio stood at 7.5 per cent at September 2026, down from 9.4 per cent at the end of December 2025. Ecobank attributed the decline largely to loan write-offs and other asset-quality measures.
Commenting on the results, Jeremy Awori, chief executive officer of Ecobank Group, said the bank’s growth, transformation and returns strategy had improved operating efficiency and strengthened its business performance.
Awori said customer deposits increased 14 per cent to $27.5 billion, while payment revenue grew nine per cent, supported by wholesale payments, card transactions and remittances.
He added that profit before tax increased 20 per cent in CESA and 10 per cent in AWA, helping to offset weaker results in Francophone West Africa and Nigeria.
Ecobank said its estimated Common Equity Tier 1 ratio stood at 12.9 per cent at September 30, 2026, while its total capital adequacy ratio was 16.9 per cent.
