AFRICAN Export-Import Bank (Afreximbank) posted a 30% increase in net income for the six months ended June 30, 2026, as lending growth and stronger interest income boosted profitability despite inflationary pressures.
The bank said its performance reflected the resilience of its business model and its continued support for trade and economic development across Africa and the Caribbean.
Group total assets and contingencies rose 7,8% to US52,3billionfromUS48,5 billion at December 31, 2025, driven mainly by expanding lending activities.
Net loans and advances increased 5,7% to US35,4billionfromUS33,5 billion at the end of 2025.
Asset quality improved during the period, with the non-performing loan ratio falling to 2,20% from 2,43% at year-end 2025, reflecting prudent risk management.
The group maintained a strong liquidity position, with liquid assets accounting for 13% of total assets, within its strategic target range of 10% to 15%.
Shareholders’ funds increased to US8,5billionfromUS8,4 billion, supported by US534,7millionininternallygeneratedprofitsandUS13,9 million in new equity raised during the period.
Net interest income climbed 22% to US1,0billionfromUS840 million in the corresponding period last year, while fee and commission income rose 15% to US71,1millionfromUS61,9 million, driven by higher earnings from guarantees, letters of credit and advisory services.
Net income reached US534,7million,upfromUS412,7 million in the first half of 2025.
Profitability also improved, with return on average shareholders’ equity rising to 13% from 11%, while return on average assets increased to 2,54% from 2,22%.
The cost-to-income ratio edged up to 20% from 19%, reflecting higher personnel costs and persistent inflationary pressures while remaining at a healthy level.
After the reporting period, Afreximbank completed a US$1,5 billion dual-tranche bond issuance — the largest international debt capital markets transaction in its history.
The issue comprised US750million5,5-yearandUS750 million 10-year tranches and was about twice oversubscribed, underscoring strong investor demand.
On the balance sheet, total assets stood at US43,4billionatJune30,2026,comparedwithUS42,3 billion at the end of 2025. Total liabilities increased to US34,8billionfromUS33,9 billion, while shareholders’ funds rose to US8.5billionfromUS8,3 billion.
The group’s Basel II capital adequacy ratio remained robust at 22%, compared with 23% at the end of 2025.
Afreximbank senior executive vice-president Denys Denya said the results demonstrated the group’s ability to support member countries amid a challenging global environment.
“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,” Denya said.
“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.”
He added: “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.”
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