Prime Business AfricaEcobank’s interest income increased by 28 percent to N794.02 billion between April and June 2025, compared to the N620.01 billion generated in Q2 2024.
Breakdown of the interest income showed interest income calculated using the effective interest method contributed N795.06 billion in Q2 2025, compared to the N617.13 billion recorded in Q2 2024.
Join our WhatsApp ChannelHowever, the company was unable to replicate the N2.88 billion other interest income reported in the second quarter of last year, as it recorded N1.04 billion other interest loss.
In the company’s condensed consolidated unaudited financial statements for the period ended June 30, 2025, Ecobank said interest expense grew by 12 percent year-on-year to N273.63 billion, from N244.90 billion.
Additionally, net interest income increased by 39 percent to N520.39 billion during the period under review, surpassing the N375.11 billion posted in the second quarter of last year.
In the same vein, the company’s fee and commission income increased to N263.08 billion in Q2 2025, above the N201.13 billion notched up in Q2 2024, representing an increase of 31 percent.
However, the 43 percent growth in fee and commission expense overshadowed the increase in fee and commission income, as the former rose to N29.28 billion in Q2 of this year, compared to the N20.41 billion recorded in the corresponding period in 2024.
Although trading income and foreign exchange gains grew by 36 percent year-on-year, from N123.06 billion to N167.78 billion, while net investment income rose by 3223 percent within the same period, rising from N160.05 million to N5.31 billion.
Also, operating income grew by 37 percent year-on-year, from N694.70 billion to N949.19 billion, while operating expenses increased to N446.59 billion in Q2 2025, compared to the N370.75 billion posted in Q2 2024, reflecting an increase of 20 percent.
The earnings report further showed that Ecobank recorded N352.92 billion profit before tax (PBT) between April and June 2025, exceeding the N241.95 billion reported in the same period last year.
With Ecobank’s PBT rising by 46 percent, the lender saw a 48 percent increase in income tax for Q2 2025, as it filed N106.16 billion, compared to the N71.93 billion tax paid in the second quarter of 2024.
Nevertheless, Ecobank recorded 45 percent growth in its profit after tax (PAT), after it increased to N246.76 billion during the review period, compared to the N170.02 billion posted in the corresponding period last year.
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