Ecobank Cameroon has announced a record net profit of CFA21.05 billion for 2024, marking a 47.5% increase from the previous year. This represents an additional CFA7 billion in earnings. The results, disclosed during the bank’s annual general meeting on March 28, 2025, in Douala, are still subject to approval by the Central African Banking Commission (COBAC), which regulates the banking sector in the CEMAC region.

According to Ecobank, this strong performance was driven by a strategic focus on product adoption and digital banking solutions. The bank emphasized that these initiatives helped generate sustainable returns on equity, improve revenue growth, optimize costs, and enhance overall efficiency.

The 2024 profit figure is the highest since Ecobank began operations in Cameroon in 2001. With this performance, the bank achieved a return on equity of 39.43%, demonstrating exceptional profitability. Despite an uncertain global economic environment and increasing competition, Ecobank managed to strengthen its key financial indicators.

At the end of 2024, Ecobank Cameroon reported total assets of CFA588.1 billion and customer deposits of CFA434.6 billion, reflecting a 13% increase. However, outstanding loans declined by 15% to CFA155.1 billion. Net banking income rose by 10% to CFA50.1 billion, up CFA4.5 billion from the previous year. Meanwhile, pre-tax profit jumped 32%, reaching CFA22.8 billion from CFA17.2 billion.

Source: Business in Cameroon