Ecobank Transnational ETI FY 2025 Results: Record PBT, Nigeria Stumbles

Ecobank Transnational Incorporated disclosed its FY 2025 full-year results on 14 April 2026, reporting record group-wide profit before tax of $801 million, up 21% year-on-year. Net revenues rose 17% to $2.45 billion, with earnings per share climbing 23% to $0.017. The board has recommended a dividend of $0.0016 per share — roughly 43% higher than the last dividend paid under FY 2022 results — pending AGM approval.

What the numbers reveal is a geographically diversified franchise firing on multiple cylinders, except in Nigeria. While regions like CESA (ROE: 36.1%) and AWA (ROE: 29.7%) delivered strong returns, ETI's Nigeria segment recorded a revenue decline of 13.8% and a pre-tax loss of $31 million — a significant drag on an otherwise stellar group performance. This signals continued pressure on the bank's Nigerian operations, likely reflecting the lingering impact of naira devaluation and macroeconomic headwinds.

On the positive side, the group's cost-to-income ratio improved to a record 48.3% from 52.8%, and capital adequacy remains healthy at 16.7%, well above regulatory minimums.

Investors should watch whether ETI's Nigeria franchise can return to profitability in 2026, the timing and size of the dividend payment post-AGM, and any strategic moves to stabilise the Nigerian business.