Ecobank Transnational Incorporated Plc, on Tuesday presented its result for the nine months ended September 30, 2025 to the Nigerian Exchange Limited, with highlights such as the robust growth in gross earnings, just as profit soared by 43% in Naira terms. The contribution of the group’s Nigerian subsidiary remained behind other operational segments, in what analysts blame on the recent devaluation of the country’s currency- the Naira.
Gross earnings for the period jumped 21% to N3.548tr from N2.931tr; while revenue improved by 26% from N2.142tr to N2.707tr. Interest income for the period improved from N1.929tr to N2.33tr, representing a 21% rise; interest income for the period climbed to N2.317tr from N1.918tr. This was driven by interest income from loans and advances to customers amounting to N1.164tr, up from N1.008tr in the first nine-months of 2024; followed by income from investment securities of N543.441bn, up from N538.399bn; while treasury bills and other eligible bills yielded N456.318bn, compared to the previous N227.056bn.
Interest expense rose 24% from N725.244bn in the corresponding period of last year to N770.421bn, of which expenses on customer deposits increased from N401.316bn to N479.353bn; resulting in a net interest income of N1.559tr, 30% better than the N1.203tr reported in the prior 9 months.
Fee and commission income improved by 24% to N758.157bn from N613.547bn, buoyed by the cash management and related fees of N362.395bn from N301.783bn; ahead of credit related fees and commissions amounting to N203.284bn from N161.945bn; among others. Fee and commission expense leaped 30% to N84.379bn from N65.125bn, with other fees paid accounting for N52.697bn from N40.137bn; and bank charges accounting brokerage fees cost N28.495bn and N22.483bn.
Trading income was up 25% to N448.391bn from N359.519bn, lifted by foreign exchange trading gains, which grew from N304.623bn to N406.914bn; as trading income on securities amounted to N79.536bn, more than double the previous N32.136bn; while forex translation loss stood at N38.059bn from a N22.756bn gains. Net investment income soared by 332% from a negative 2.25bn to N5.211bn.
Other operating income slipped 39% to N20.293bn from N33.154bn, after dividend income fell from N27.868bn to N13.888bn.
Non-Interest revenue, therefore, stood at N1.147tr, up by 22% from N938.843bn in the similar period of 2024; resulting in an operating income of N2.707tr from N2.142tr.
Staff expenses stood at N568.586bn from N49.368bn; depreciation and amortisation climbed 9% from N82.445bn to N90.008bn; other operating expenses rose to N641.223bn from N590.483bn; resulting in operating expenses of N1.299tr, up from N1.163tr.
Operating profit before impairment charges and taxation improved by 33% from N979.447bn to N1.407tr; impairment charges on financial assets rose to N393.681bn, up from N267.129bn, buoyed by impairment losses on loans and advances totaling N530.306bn, up from N316.417bn, the impact of which was mitigated by N185.677bn in recoveries of loans previously provisioned for, up from N134.196bn; while impairment charges on other financial assets also fell from N82.267bn to N47.893bn. Operating profit after impairment charges before taxation soared from N712.317bn to N1.013tr.
Profit before tax was amounted to N1.014tr from N712.369bn; tax expenses jumped 40% from N216.61bn to N302.88bn; just as profit after tax improved 44% from N495.758bn to N711.918bn.
On the balance sheet, total assets grew from N43.302tr at the end of the nine-month period, up by 10.79% to N47.974tr at the end of December 31, 2024; boosted by customer loans and advances which increased from N15.345tr to N16.782tr. Total liabilities also climbed from N40.522tr to N44.289tr, with customer deposits soaring by 12.77% from N31.636tr to N35.677tr; following which shareholders’ fund jumped 32.56% up to N2.521tr from N1.754tr in December last year.
A further breakdown of the result showed that group’s Nigerian operations could only muster N113.265bn of its operating income, and N8.993bn of net profit; far behind the N607.599bn and N257.938bn respectively from the Central, Eastern and Southern Africa (CESA) area; the N565.636bn and N236.969bn from the Francophone West Africa business segment (UEMOA); and N523.594bn and N228.275bn contributed by the group’s Anglophone West Africa (AWA) region.
On the balance sheet also, N12.143tr and N10.889tr or bulk of total assets and total liabilities respectively, according to the report, is domiciled in the UEMOA region; followed by the CESA region with N8.838tr and N7.822tr; AWA accounts for N7.497tr and N6.585tr; while Nigeria is home to N3.51tr and N3.205tr respectively of the balance sheet.
