Ecobank posts CFA167 bln profit as BRVM Composite rises 0.24%
The BRVM Composite rose 0.24% to 482.65 points on July 31, while the BRVM Composite Total Return added 0.27% to 192.62 points. Energy led the market with a 2.1% gain to 159.44 points, while consumer staples fell 1.98% to 279.38 points and the BRVM Principal slipped 0.61% to 365.27 points. Ecobank reported net profit of CFA167 billion at end-June 2026, with double-digit first-half growth, but Nigerian risk costs trimmed earnings, according to Sika Finance, Agence Ecofin and Financial Afrik. Financials still edged up 0.35% to 234.83 points, while the BRVM-30 climbed 0.56% to 230.08 points.
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The BRVM Composite fell 0.1% to 482.21 on July 29, while the BRVM-30 lost 0.2% to 229.27 and the Total Return index edged up 0.06% to 191.87. Financial services slipped 0.19% to 234.48 as Ecobank reported net profit of CFA167 billion at end-June, held back by risk costs, according to Sika Finance. Ecobank posted double-digit growth in the first half of 2026, but Nigerian risk costs eroded earnings, according to Agence Ecofin. Financial Afrik reported that the group's first-half 2026 growth remained solid, with results still below potential.
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