Afreximbank Net Income Rises 24% to $813.5m in Nine Months

October 27, 2026 | By Semahegn Nigatu

African Export-Import Bank’s net income rose 24 percent to 813.5 million US dollars in the nine months to September 30, 2026, as growth in lending and interest income lifted earnings at the pan-African trade finance lender.

Net income increased from 654.3 million US dollars in the corresponding period of 2025, while gross income rose 11 percent to 2.7 billion US dollars, according to the bank’s financial results.

The bank’s total assets and contingencies increased 12 percent to 54.1 billion US dollars from 48.5 billion US dollars at the end of 2025. Net loans and advances grew eight percent to 36.2 billion US dollars from 33.5 billion US dollars over the same period, reflecting an expansion of its lending portfolio.

Interest income increased 9.1 percent to 2.4 billion US dollars from 2.2 billion US dollars a year earlier. Average loan balances rose to 34.8 billion US dollars from 28.9 billion US dollars, while net interest income increased 15 percent to 1.5 billion US dollars.

Income from fees and commissions on services including guarantees, letters of credit and advisory work rose to 136.9 million US dollars from 117.2 million US dollars in the corresponding period of 2025.

Afreximbank maintained a cost-to-income ratio of 20 percent, down from 21 percent a year earlier and below its strategic ceiling of 30 percent. Return on average shareholders’ equity stood at 12 percent, while return on average assets improved to 2.48 percent from 2.34 percent.

Asset quality remained relatively stable, with the non-performing loan ratio increasing slightly to 2.48 percent from 2.43 percent at the end of December 2025. Provisions for expected credit losses rose to 537.6 million US dollars from 481.3 million US dollars in the corresponding period a year earlier.

The bank’s liquid assets stood at 6.1 billion US dollars, equivalent to 13 percent of total assets, down from 15 percent at the end of 2025. Its capital adequacy ratio declined to 22 percent from 23 percent over the same period.

Shareholders’ funds increased to nine billion US dollars from 8.4 billion US dollars at the end of 2025, supported by retained earnings and 195.2 million US dollars in new equity contributions under its General Capital Increase programme.

Afreximbank also raised 1.5 billion US dollars through a dual-tranche bond issuance in July 2026, comprising 750 million US dollars in 5.5-year notes and the same amount in 10-year notes. The issue was approximately twice oversubscribed, according to the bank. Outstanding debt securities increased to 4.4 billion US dollars from 3.4 billion US dollars at the end of 2025.

During the period, the bank established a 10 billion US dollar Gulf Crisis Response Programme to provide liquidity support, facilitate trade and payment flows, and help member countries maintain access to essential imports, including energy products, fertilisers and food.

High-impact investments increased 23 percent to 1.6 billion US dollars from 1.3 billion US dollars at the end of 2025, supporting projects linked to industrialisation, trade competitiveness and economic resilience.

Denys Denya, Afreximbank’s senior executive vice-president, said the results reflected growth in lending, profitability and the bank’s capacity to finance trade and development across Africa and the Caribbean Community.

Source: FSX Business News