$122.5 Million in 90 Days: Ecobank’s Q1 Profit Jumps 17% Amid Pan-African Stability

Ecobank Transnational Incorporated (ETI), the Togo-headquartered pan-African banking group, reported a profit after tax of $122.5 million for the first quarter of 2025, up 17% from the $105 million recorded in the same period last year. The strong performance was underpinned by a 9% rise in operating profit before impairment to $249.8 million and a 4% revenue boost to $516.3 million.

Gross earnings grew modestly by 2% to $690 million, suggesting a tempered but steady growth trajectory despite economic headwinds in several key markets. Operating expenses remained flat at $266.5 million, indicating effective cost containment even as the group expanded services across 39 countries.

The bank also recorded a 3% rise in total assets to $28.9 billion and a 5% growth in customer deposits to $21.5 billion, reflecting continued confidence from its retail and institutional clients. Loans and advances to customers were largely flat at $9.9 billion.

In naira terms, the story is even more impressive: profit after tax surged by 33% to ₦187.1 billion, reflecting the impact of currency devaluation on reported figures.

Group CEO Jeremy Awori attributed the bank’s robust performance to “strong governance, disciplined execution, and a diversified footprint that insulates us from market-specific shocks.” He emphasized ongoing digital transformation and risk management as key drivers for sustained profitability.

The group’s earnings per share rose by 22% in dollar terms to 0.341 cents, and by 39% in naira terms to ₦5.20 per share—an encouraging signal for investors navigating Africa’s turbulent markets.