Ecobank Togo said net profit fell 9.5 percent in 2025 to 14.3 billion CFA francs (US$25 million), as the impact of a one-off tax relief in the previous year faded, even as revenue and lending activity continued to grow.
The bank’s revenue rose 9.9 percent to 45.7 billion CFA francs, supported by stronger commercial activity in lending and deposits, according to its annual report presented at its shareholders’ meeting in Lomé.
Ecobank Togo, the local subsidiary of pan-African lender Ecobank Transnational Incorporated (ETI), said the decline in profitability was mainly due to higher tax charges in 2025 after a temporary fiscal adjustment linked to an audit by the Togolese Revenue Authority boosted 2024 earnings.
“Banking activity remained strong despite a demanding regulatory and competitive environment,” said board chairwoman Séna Elda Afiwa Kpotsra in a message to shareholders dated April 29, 2026.
Customer lending rose 16.8 percent to 373 billion CFA francs, while deposits increased 12.1 percent to 588.8 billion CFA francs, reflecting sustained demand for credit and continued confidence in the banking system.
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Total assets grew 5 percent to 724.2 billion CFA francs over the period.
Despite lower profits, the board proposed a dividend increase of 60%, recommending a payout of 40,000 CFA francs per share, compared with 25,000 CFA francs the previous year. The total dividend would amount to 8 billion CFA francs.
The bank also reported a 200 million CFA franc fine imposed by the West African Monetary Union Banking Commission following a targeted review of external financial transactions. Ecobank Togo said it had launched a corrective action plan in response.
The lender said it continued to receive recognition for performance, including being named “Best Bank in Togo 2025” by Global Finance magazine in its annual World’s Best Banks Awards.
Its workforce remained steady at 335 employees, operating through 18 branches and 86 ATMs across the country.
Macroeconomic conditions in the West African Economic and Monetary Union provided some support to the banking sector during the year. The Central Bank of West African States (BCEAO) cut its main policy rate by 25 basis points to 3.25 percent in June 2025, followed by a further reduction to 3.00 percent in March 2026.
Ecobank Togo said the easing cycle should improve refinancing conditions and support credit expansion in the current financial year.
While profitability was weighed down by higher taxation, analysts say the underlying performance points to continued resilience in Togo’s banking sector, driven by steady loan growth and deposit mobilisation despite a challenging regulatory environment.
Ecobank Togo operates as part of Ecobank Transnational Incorporated, which runs banking operations across multiple African markets.
