Ecobank Transnational Incorporated reported full-year 2024 profit before tax of $658 million, a 13% increase year on year — or 33% in constant-currency terms — as the pan-African banking group achieved a record return on tangible equity of 32.7%. The results were released at the end of March 2025.
Net revenue for the year was $2.1 billion, broadly stable in reported terms but up 18% in constant currency. Earnings per share rose 16% to 1.36 US cents. Chief executive Jeremy Awori called 2024 "a pivotal year" for the group's Growth, Transformation and Returns strategy.
RETURNS AND EUROBOND ISSUANCE
The cost-to-income ratio improved to a record low of 53.0%, from 53.9%, while lower impairment charges and higher fee income also supported returns.
During the year, Ecobank issued a $400 million Eurobond.
CUSTOMER BASE
Ecobank's active customer base grew 9% during the year. The group operates in 33 African markets.