Best bank: Ecobank Gabon
Ecobank Gabon delivered strong growth over the awards period while also expanding its product suite.
AfE 2024
The bank’s total assets, operating revenue and profit before tax rose by 59%, 42% and 74% respectively. Return on tangible equity reached 42%, increasing by 13 percentage points, while the non-performing loan ratio fell by 2.3 percentage points, from 7% to 4.7%.
The bank saw substantial growth in transaction volumes which were up by 31% to $528 billion. Digital transactions increased by 49% year on year to $14.4 billion.
Investments in digital capability were a key focus for Ecobank. It became the first bank in Gabon to integrate its bank accounts with an external mobile app. Launched in partnership with Airtel Money, this initiative allows customers to use Airtel’s mobile wallet.
Other enhancements included the launch of bank’s Xpress account, which allows non-Ecobank customers to use its payment functionalities, and the introduction of the Ecobank Pay electronic payment solution for small and medium-sized enterprises.