Ecobank Group reported a solid first-quarter performance for 2026 with profit after tax rising to $142.5 million, supported by strong revenue growth across its markets despite moderate balance sheet expansion.
Gross earnings increased by 20 percent to $825.5 million or ₦1.14 trillion, while revenue climbed 23 percent to $636.2 million (₦881.6 billion) on improved income generation across key business segments.
Operating income before impairment charges rose by 30 percent to $324.4 million (₦449.5 billion) due to stronger operating efficiency and cost discipline during the period.
Profit before tax advanced by 11 percent to $195.0 million (₦270.2 billion), while profit after tax grew by 16 percent to $142.5 million (₦197.5 billion).
Earnings per share increased to 0.377 U.S. cents with kobo earnings largely stable at 521.85 kobo.
On the balance sheet, total assets rose by 2 percent to $35.2 billion but declined by 2 percent in naira terms to ₦48.83 trillion, indicating the impact of currency movements on reported figures.
Loans and advances to customers declined by 2 percent to $11.5 billion and fell more sharply by 6 percent to ₦15.96 trillion, suggesting a cautious lending stance amid prevailing macroeconomic conditions.
Customer deposits increased by 5 percent to $26.5 billion (₦36.81 trillion), reinforcing the Group’s funding base and liquidity position.
Total equity remained largely stable at $2.9 billion but declined by 4 percent in naira terms to ₦3.97 trillion.
The Group’s performance highlights a divergence between strong core earnings growth and moderated balance sheet expansion, driven largely by currency dynamics and strategic adjustments in lending activities.
The results were approved by the Board of Directors on April 24, 2026 with Group Chief Executive Officer Jeremy Awori and Group Chief Financial Officer Ayo Adepoju signing off on the financial statements.
