Ecobank Transnational Incorporated (ETI) has announced a pre-tax profit of N584.01 billion for the first half of 2026, according to its unaudited financial results released on Tuesday. This performance represents a substantial improvement over the same period last year, reflecting the group's strategic focus on revenue diversification and operational efficiency.
Financial Highlights
The bank's gross revenue rose to N1.3 trillion, up from N1.1 trillion in H1 2025, driven by growth in net interest income and non-interest revenue. Net interest income increased by 12% to N850 billion, while non-interest income grew by 18% to N450 billion. Operating expenses were kept under control, rising by only 8% to N600 billion, leading to an improved cost-to-income ratio of 46%. Earnings per share stood at N15.20, compared to N12.80 in the prior year.
Revenue Drivers
ETI attributed the strong performance to increased lending activities, higher transaction volumes, and growth in its digital banking platform, Rapid Transfer. The bank's loan book expanded by 15% to N4.5 trillion, while deposits grew by 12% to N6.2 trillion. The group also benefited from favorable foreign exchange revaluation gains and a reduction in impairment charges, which fell by 10% to N120 billion.
Outlook
Looking ahead, ETI expects to maintain its growth trajectory, supported by ongoing investments in technology and expansion into new markets. The bank's CEO stated, "We are pleased with our H1 2026 results, which demonstrate the resilience of our business model and our ability to deliver value to stakeholders. We remain focused on driving sustainable growth and enhancing shareholder returns." The bank has declared an interim dividend of N3.00 per share, payable to shareholders on record as of August 15, 2026.
