By Ayomide Otitoju
Ecobank Nigeria has reported strong financial performance for the first half of 2025, reflecting the impact of its ongoing transformation strategy aimed at driving revenue growth, improving asset quality, and enhancing operational efficiency.
According to the bank’s financial results, revenue rose by 30% year-on-year to ₦113.7 billion, up from ₦87.6 billion in H1 2024. Profit before tax nearly doubled to ₦13.5 billion, representing a 90% increase from ₦7.1 billion recorded in the same period last year.
The bank also reported a significant rise in impairment provisions, which surged by over 200% to ₦32.8 billion. The increase supports efforts to accelerate loan write-offs and strengthen balance sheet resilience.
A source at the bank attributed the performance to the establishment of an “asset quality war room,” which has intensified loan recovery efforts. Improved oil production also boosted recoveries, particularly in the oil and gas sector. The bank disclosed that over ₦170 billion in stage 2 loans were reclassified to stage 1 due to consistent repayment, while a $6 million (over ₦9 billion) recovery was made from a longstanding delinquent borrower.
Parent company Ecobank Transnational Incorporated (ETI) reaffirmed its commitment to supporting Ecobank Nigeria’s recapitalisation, having injected over $10 million in 2024 to help meet the Central Bank of Nigeria’s capital adequacy requirements. Further capital injections are reportedly in the pipeline.
In a show of financial strength, the bank confirmed the early repayment of 50% of its $300 million Eurobond ahead of its February 2026 maturity. The bond is currently trading near par, signaling strong investor confidence.
As part of its prudential stance, the bank continues to comply with regulatory directives by withholding dividend payouts and management bonuses in a bid to preserve capital.
An industry analyst commented that the transformation positions Ecobank Nigeria for sustained growth, noting, “The near-par bond trading underscores the market’s confidence in the bank’s recovery trajectory.”
