Ecobank in Sierra Leone

Ecobank Sierra Leone is a wholly owned subsidiary of Ecobank Transnational Incorporated (ETI), the leading Pan-African banking group with a presence in 33 African countries and employing over 14,800 people across the continent.

The Bank commenced operations in November 2006 and has since grown to become a key player in Sierra Leone’s financial services sector. It offers a comprehensive range of products and services tailored to meet the needs of Consumer, Commercial, and Corporate Banking customers.

Ecobank Sierra Leone operates through its Head Office and strategically located branches in Freetown, Makeni, Kenema, and Bo.

The Bank is regulated by the Bank of Sierra Leone (BSL) and the Ministry of Finance of the Republic of Sierra Leone.

Financial Overview (As at December 2024)

• • Share Capital: NLe 86.5 million
• • Net Worth (Shareholders' Equity): NLe 724.6 million
• • Profit Before Tax (PBT): NLe 353.9 million
• • Profit After Tax (PAT): NLe 265.1 million
• • Total Assets: NLe 4.06 billion
• • Total Deposits: NLe 2.99 billion

In compliance with the BSL directive, Ecobank Sierra Leone has exceeded the NLe 85 million minimum unimpaired capital requirement as of December 2024. Additionally, in preparation for the revised minimum capital requirement of NLe 122 million by December 2025, the Bank is strategically positioning itself to ensure full compliance.

Distribution Channels

Ecobank Sierra Leone’s distribution network is strategically positioned to maximize accessibility and customer convenience. All outlets are in high-traffic areas to ensure optimal reach and visibility. The Bank distinguishes itself through a robust suite of digital banking services, offering customers seamless access to financial solutions anytime, anywhere.

Our distribution channels include:

• • 7 strategically located branches
• • 31 ATMs across key locations
• • 210 Agent Points (Xpress Points) extending financial services into communities.
• • 24/7 Telephone Banking through the Ecobank Contact Centre.
• • A full range of digital banking services via:

• o Ecobank Internet Banking
• o Ecobank Mobile App
• o USSD *977#
• o Other E-Banking platforms



Ecobank remains committed to driving financial inclusion and delivering innovative, customer-centric banking experiences across Sierra Leone.

At the Year End	2024 (NLE000)	2024 (NLE000
Total Assets	4,059,215	-
Total Deposits	2,998,234	-
Shareholder's Equity	724,578	-
Number of Branches	-	7

For the Financial Year	2024 (NLE000)
Profit After Tax	265,099




Capital Compliance Analysis

2024 Compliance Check

• • BSL Minimum Capital Required (Dec 2024): NLe 85 million
• • Ecobank Share Capital (2024): NLe 86.507 million



o ✔ Compliant – Exceeds 2024 requirement by NLe 1.507 million.




2025 Regulatory Requirement

• New BSL Directive (by Dec 2025): Minimum NLe 122 million in unimpaired capital.

Capital Gap to be Covered:

• Required Increase = 122M - 86.507M = NLe 35.493 million

Ecobank will need to:

1. Increase share capital by at least NLe 35.5 million in 2025, either through:

• o Retained earnings,
• o Capital injection from shareholders,
• o Bonus issue (if reserves allow), or
• o A rights issue.