Ecobank Ghana Reports Record 2024 Results, Cementing Market Leadership
Ecobank Ghana PLC has posted record financial results for 2024, highlighting its resilience, prudent management, and strong commitment to sound business practices.
The figures were disclosed at the bank’s 2025 Annual General Meeting (AGM) by Board Chairman, Mr. Samuel Ashitey Adjei, during a session that brought together shareholders, board members, and key stakeholders to review performance and strategic priorities.
“2024 was another strong year for Ecobank Ghana PLC,” Mr. Adjei stated. “Our consistent quarterly results and robust full-year performance reflect our financial strength and our determination to drive profitability, manage risks prudently, and contribute positively to society.”
The bank’s total revenue for the year reached GH¢5.4 billion, propelled mainly by growth in net interest income and fee-based earnings. Net interest income accounted for 70% of the total, with non-interest income contributing 30%, down from 44% in 2023. This performance was largely driven by the bank’s successful trade and cash management initiatives.
Ecobank Ghana recorded a pre-tax profit of GH¢2.4 billion, representing a remarkable 139.3% year-on-year increase, fueled by topline growth and cost-saving measures that kept expenses in check. The bank maintained operational efficiency, closing the year with a cost-to-income ratio of 36.8% and setting the stage for further improvements in 2025.
Total assets rose by 36.7% to GH¢46 billion, while customer deposits climbed 23.2% to GH¢32.5 billion, reflecting strong customer confidence and enhanced product offerings. Capital and liquidity positions remained robust, with a Common Equity Tier 1 ratio of 15.39% and a Capital Adequacy Ratio of 17.03%, both well above the regulatory minimum of 10%.
Returns on average equity and assets improved significantly to 38.0% and 4.3%, respectively, compared to 20.0% and 2.1% in 2023.
Ecobank Ghana’s Managing Director, Mrs. Abena Osei-Poku, praised the dedication of the bank’s staff, noting, “I am proud of the resilience and commitment of our team. Our strong deposit franchise and the enduring trust of our customers continue to underpin our financial success.”
Mrs. Osei-Poku added that despite inflationary pressures, the bank’s ongoing cost management initiatives are expected to further enhance efficiency and profitability in 2025.
Ecobank Ghana’s performance reinforces its position as a leader in the banking sector, as it remains focused on creating long-term value for shareholders and supporting national economic growth.
