The pre-tax profit stands at $423 million, up from $398 million a year ago, representing a 6% increase. However, the return on tangible equity has decreased to 21.1%, compared to 27.8% for the entire 2025 fiscal year.

The slowdown in net profitability is mainly due to the depreciation of assets recorded in Abuja. The Central Bank of Nigeria's decision to end prudent tolerance forced the local subsidiary to provision for old commitments, particularly in the oil and gas sector, resulting in a pre-tax loss of $31 million in 2025 and a quadrupling of depreciation charges to $82 million. Globally, the group's non-performing loan ratio has risen to 9.4% from 6.7%, with credit loss reserves reaching $1 billion by the end of the first quarter, representing 8.1% of total outstandings. However, revenue from the Nigerian market has increased by 23%.

Operational momentum remains strong across the rest of the network's geographic zones. The Central, Eastern, and Southern Africa region records revenue of $470 million, up 20%, while the Anglophone West Africa zone grows 16% to $372 million. The UEMOA sub-network accounts for $382 million, representing 6% growth.

Balance sheet indicators reflect the strengthening of the economic model. Customer deposits have increased by $3.1 billion over the past year to $27 billion, with 85% consisting of low-cost resources. The operating expense ratio has stabilized at 48.4%. The technological transformation driven by CEO Jeremy Awori relies on the digital payments hub, with revenue increasing 10% to $156 million, driven by a 33% surge in digital transaction volume to $78.5 billion. In terms of finance and shareholder value, the issuance of a $450 million sustainable bond in London and the validation by the UMOA Banking Commission of the increase in Bosquet Investments' stake, led by Alain Nkontchou, to at least 24.05% of the capital, have consolidated the group's structure at the end of the quarterly strategic plan.


Nlend Flore

Tags: ecobank banque finances nigeria afrique banque centrale investissements revenus crédits dépréciation