Ecobank Q3 2025 Analysis: Pre-tax Profit Jumps 47% YoY

Ecobank Transnational Incorporated (ETI) shared its unaudited financial results for Q3 2025. The bank delivered solid results, as pre-tax profit climbed 47% from the prior year to N394.6 billion.

In the same quarter, profit after tax also climbed to N268.5 billion, representing a 48% jump from Q3 2024 figures, despite increased provisioning and a one-off loss from discontinued operations.

This strong Q3 showing pushed Ecobank’s 9-month pre-tax profit to N1.01 trillion, up 42% year-on-year, while profit after tax for the nine months rose to N702.4 billion, a 43% increase compared to the same period in 2024.

Key highlights (Q3 2025 vs. Q3 2024) 

• Net Interest Income: N588.1 billion (+34% YoY)
• Non-Interest Revenue: N381.5 billion (+12%)
• Operating Profit (Pre-Impairment): N523.4 billion (+50%)
• Pre-Tax Profit: N394.6 billion (+47% YoY)
• Post-Tax Profit: N268.5 billion (+48% YoY)
• Total Assets: N47.97 trillion (+11% YoY)
• Customer Deposits: N35.68 trillion (+13% YoY)
• Customer Loans & Advances: N16.78 trillion (+9% YoY)
• Shareholders’ Funds: N3.69 trillion (+33% YoY)

Revenue and profit drivers: 

Ecobank’s strong Q3 numbers were driven by more lending, better pricing, and vibrant non-interest income:

• The bank earned more from loans, as both interest rates and lending volumes climbed. This pushed interest income up by 20% to N841.7 billion.
• Its digital and transaction services also paid off. Customers used more payment and trade services, helping fee and commission income rise to N274.3 billion.
• On the treasury side, Ecobank made N154.3 billion from FX and trading, a 19% jump as it capitalized on market volatility.
• Pulling everything together, the bank’s total operating income for Q3 hit N969.6 billion, up 24% from the same period last year.

Cost and risk management 

Despite operating across multiple African countries, many of which are battling high inflation and currency devaluation, Ecobank kept its cost growth moderate, with operating expenses rising just 3% to N446.2 billion in Q3 2025.

However, while costs were contained, the Group increased its loan loss provisions significantly. Impairment charges surged 64% to N129.7 billion, suggesting a more cautious approach to credit risk

Balance sheet

Overall, the balance sheet paints a picture of a bank that is growing sustainably while keeping a close eye on risk and liquidity.

The significant growth in shareholders’ funds appears to be driven by higher retained earnings, FX translation gains, and fair value adjustments.

This reflects not just strong profitability, but a balance sheet boosted by both operational performance and favourable currency movements across Ecobank’s multi-country footprint.

Management commentary 

Group CEO, Jeremy Awori, noted that the bank’s performance in Q3 reflects “resilience in the face of macroeconomic uncertainty” and the success of its strategy to grow sustainably while managing risk.

“We’re pleased with the strong momentum across our businesses this quarter. Our continued investment in digital capabilities and our ability to serve customers across 33 markets is paying off. Despite persistent inflation and FX volatility in many of our markets, we’ve delivered solid earnings, strengthened our capital, and deepened customer trust.” 

Bottom line 

Ecobank’s Q3 2025 performance shows solid operational momentum, with strong top- and bottom-line growth, improved margins, and a healthier capital position.

However, risks remain. Currency devaluations across key markets, rising credit risks, and macroeconomic uncertainty could test asset quality and earnings durability in the quarters ahead.