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Ecobank Group has reported a 12 percent increase in net revenue to US$2 billion and a 12 percent rise in profit before tax to US$737 million for the first nine months of 2026, maintaining growth momentum despite macroeconomic and geopolitical headwinds.
According to a statement issued in Lusaka on Thursday, the Group’s cost-to-income ratio improved to 47.8 percent, outperforming its 2026 target range of 48 to 50 percent.
Customer deposits increased by 14 percent year-on-year to US$27.5 billion, reflecting growth in the bank’s deposit base.
Performance was supported by contributions from different regions and business segments, with Central, Eastern and Southern Africa (CESA) recording 20 percent growth in profit before tax, while Anglophone West Africa (AWA) posted a 10 percent increase.
The results were achieved amid inflationary pressures, foreign exchange volatility and slower economic activity in some African markets.
Group Chief Executive Officer, Jeremy Awori, said growth had been supported by a focus on operational efficiency, customer deposit mobilisation, technology investment and the execution of the bank’s Growth, Transformation and Returns (GTR) strategy.
Awori said the Group had continued to strengthen its balance sheet while maintaining strong liquidity and capital positions.
He said the bank’s payments and digital businesses remained important growth drivers, with payment revenue increasing by 9 percent following continued investment in technology platforms and digital capabilities.
“We achieved a profit before tax of $737 million, an increase of 12% year-on-year, and a return on tangible equity of 24.9%. Net revenue also grew by 12%, reaching $2.0 billion,” Awori said.
He said the Group’s strategy was reflected in its operational efficiency and deposit growth.
“Our Growth, Transformation, and Returns strategy is clearly reflected in our efficiency and franchise performance. Our cost-to-income ratio was 47.8%, ahead of our 2026 target range of 48% to 50%. Customer deposits rose 14% to $27.5 billion, with current and savings accounts accounting for 85% of the total,” Awori said.
He said the deposit growth reflected customer confidence in the bank and had helped mitigate margin pressures arising from interest rate cuts in some markets, contributing to a 12 percent increase in net interest income.
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Awori added that payment revenue grew by 9 percent, while the Group’s diversified business model helped offset weaker performance in the West African Economic and Monetary Union (UEMOA) region and Nigeria.
He said the non-performing loan ratio remained broadly stable at 7.5 percent, within the Group’s 2026 target range of 6 to 8 percent, reflecting continued discipline in portfolio and risk management.
“Energy prices, inflation, and foreign exchange volatility are real risks as we move through the remainder of the year. However, our strong deposit base, liquidity and capital position, combined with our new products and propositions, position us well to drive further growth while maintaining a disciplined approach to risk,” Awori said.
Beyond its financial performance, Ecobank expanded its international presence through the opening of new premises for its Beijing Representative Office and the signing of a protocol with the China Cross-Border Interbank Payment System (CIPS).
The Group also concluded its Ecobank@40 celebrations with a US$2.6 billion commitment aimed at supporting women-owned businesses and agriculture across Africa.
Its performance and leadership were also recognised at the Global Finance Awards held during the World Bank and International Monetary Fund meetings, where it received distinctions including Best Bank in Africa 2026 and World’s Best Frontier Markets Bank 2026.
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