The African Export-Import Bank (Afreximbank) and its subsidiaries increased net income by 30 per cent to $534.7 million in the first half of 2026, as stronger lending and higher interest income drove a robust financial performance.
Net income rose from $412.7 million recorded in the corresponding period of 2025, while net interest income increased by 22 per cent to $1 billion from $840 million.
The bank’s lending activities also expanded during the period, with net loans and advances rising 5.7 per cent to $35.4 billion from $33.5 billion at the end of 2025.
Total assets and contingencies increased by 7.8 per cent to $52.3 billion, compared with $48.5 billion at December 2025.
Afreximbank maintained asset quality during the period, with its non-performing loan ratio improving to 2.20 per cent from 2.43 per cent at the end of 2025.
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Fee and commission income also rose 15 per cent to $71.1 million from $61.9 million in H1 2025, supported by higher fees from guarantees, letters of credit and advisory services.
The stronger earnings lifted return on average shareholders’ equity to 13 per cent from 11 per cent, while return on average assets increased to 2.54 per cent from 2.22 per cent.
Shareholders’ funds rose to $8.5 billion from $8.4 billion at the end of 2025, supported by $534.7 million in internally generated profits and $13.9 million in new equity raised during the period.
The bank’s liquidity position remained within its strategic target, with liquid assets accounting for 13 per cent of total assets, compared with 15 per cent at the end of 2025. Its Basel II capital adequacy ratio stood at 22 per cent, compared with 23 per cent.
Despite higher personnel expenses and persistent inflationary pressures, the cost-to-income ratio remained at 20 per cent, compared with 19 per cent in H1 2025.
Afreximbank also strengthened its funding profile after the reporting period with a $1.5 billion dual-tranche bond issuance, the largest international debt capital markets transaction in the bank’s history.
The issuance comprised a $750 million 5.5-year tranche and a $750 million 10-year tranche and was approximately two times oversubscribed.
Commenting, Afreximbank’s Senior Executive Vice President, Denys Denya, said, “Our financial performance and strong position reflect the continued resilience of the Group at a time when our member countries are navigating a particularly complex global environment.
“Our healthy balance sheet gives us the capacity to respond when markets are disrupted, while continuing to finance the trade, industrialisation and investment that underpin longer-term economic resilience.
“The expansion of our lending, the strength of our asset quality and our continued access to diversified funding enable us to remain responsive to immediate challenges while supporting the structural transformation of African and Caribbean economies.”
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X