Ecobank Nigeria has reported a 30 per cent rise in revenue to N113.7 billion for the first half of 2025, up from N87.6 billion in the same period of 2024, reflecting the impact of its ongoing transformation strategy.
The bank’s profit before tax surged by 90 per cent to N13.5 billion from N7.1 billion in H1 2024, despite a sharp increase in impairment charges, which rose by over 200 per cent to N32.8 billion. The elevated provisions were part of efforts to support loan write-offs and enhance asset quality.
A bank source revealed that the creation of an “asset quality war room” significantly boosted collections and recoveries. Improved oil production also played a role in strengthening loan recoveries, especially in the oil and gas sector.
Ecobank Nigeria recovered over N9 billion ($6 million) from a long-defaulting customer, while more than N170 billion in stage 2 loans were upgraded to stage 1 status due to consistent repayments.
The bank maintains a liquidity ratio well above the 30 per cent regulatory threshold, indicating solid financial health. Its parent company, Ecobank Transnational Incorporated (ETI), injected over $10 million into Ecobank Nigeria in 2024 to support its capital position and meet regulatory requirements.
Further capital injections are planned, alongside other strategic actions to restore the bank’s Capital Adequacy Ratio. The bank also completed early repayment of 50 per cent of its $300 million Eurobond, due in February 2026, underscoring its financial resilience. The bond now trades close to par, signalling strong investor confidence.
To maintain capital strength, Ecobank Nigeria continues to comply with regulatory guidance by suspending dividend payments and management bonuses.