Ecobank
About Company
Ecobank Transnational Incorporated (ETI), commonly known as Ecobank, is a pan-African banking conglomerate and one of the largest independent regional banking groups in West and Central Africa.
It serves both wholesale and retail customers across the continent, operating as a universal bank with a focus on financial inclusion, innovation, and cross-border services. Headquartered in Lomé, Togo, Ecobank employs over 14,000 people and caters to a diverse client base, including individuals, SMEs, corporations, financial institutions, and international organizations.
As of recent data, it boasts a customer base exceeding 32 million and generates significant revenue, with Ecobank Ghana alone reporting US$3.4 billion in 2022.
History
Ecobank was founded in 1985 as a private-sector initiative driven by the Federation of West African Chambers of Commerce and Industry (FOWACCI), with support from the Economic Community of West African States (ECOWAS).
The goal was to create a privately owned regional bank to meet the financial needs of West African entrepreneurs, countering the dominance of foreign and state-owned banks at the time. In October 1985, the Togolese government granted ETI the status of a non-resident regional financial institution. Operations began in Togo, with Citibank providing technical assistance from 1986 to 1988.
The bank expanded rapidly across Africa. By 1989, it had launched in Nigeria, and in 1990 in Ghana. A pivotal moment came in 2008 with the formation of the Ecobank-Nedbank Alliance, partnering with South Africa’s Nedbank Group (one of the country’s largest financial providers), which expanded its footprint into Southern Africa.
Today, Ecobank’s shares are listed on multiple exchanges, including Nigeria’s NGX (ETI), Ghana’s GSE (EGH), and the BRVM.
Services
Ecobank offers a comprehensive suite of financial products and services, divided into key segments:
| Segment | Key Services |
|---|---|
| Retail/Consumer Banking | Deposits, loans, mortgages, debit/credit cards, personal banking for individuals (e.g., premier, classic, and direct accounts), digital banking, and mobile money solutions. |
| Commercial/Wholesale Banking | Cash management, trade finance, value-chain financing, treasury services, and solutions for SMEs, local corporates, and public sector entities. |
| Corporate & Investment Banking | Pan-African lending, foreign exchange, corporate finance, securities, asset/wealth management, investment banking, and advisory services for global/regional corporations and institutions. |
| Other | Bancassurance, internet banking, funds transfers, and specialized IT-managed operations for efficiency. |
These services emphasize accessibility through digital channels, ATMs, and branches, promoting financial inclusion across Africa.
Presence and Operations
Ecobank operates in 33 African countries, with over 1,500 branches, 1,981 ATMs, and representative offices in non-operational locations like Angola, Beijing, Dubai, Ethiopia, South Africa, and the UK.
Its subsidiaries, such as Ecobank Nigeria (established 1989) and Ecobank Ghana (1990), are major players in their markets—Ecobank Ghana, for instance, was ranked Ghana’s largest bank in 2023 by PwC.
The group’s subsidiaries handle local operations, while the parent ETI oversees regional strategy. Major shareholders include Nedbank Group (20.7%), Qatar National Bank (17.4%), and South Africa’s Government Employees Pension Fund (13.8%).
Recent Developments
As of 2025, Ecobank continues to focus on digital transformation and expansion. It has navigated challenges like the 2015 Honeywell debt dispute in Nigeria (resolved in Honeywell’s favor by the Bankers’ Committee).
The bank remains a key driver of intra-African trade finance and innovation, with ongoing investments in IT via eProcess International for cost efficiency and service quality.
For the latest updates, visit their official site at ecobank.com.