The African Export-Import Bank (Afreximbank) recorded a 30 percent increase in net income to $534.7 million in the first half of 2026, driven by higher lending and growth in interest and fee income.
The bank’s net income rose from $412.7 million recorded in the corresponding period of 2025, while net loans and advances increased by 5.7 percent to $35.4 billion at the end of June 2026, compared with $33.5 billion at the end of 2025.
The stronger lending performance contributed to a 22 percent rise in net interest income to $1 billion, from $0.84 billion in the first half of 2025.
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Fee and commission income also increased by 15 percent to $71.1 million from $61.9 million, supported by higher fees from guarantees, letters of credit and advisory services.
The improved earnings strengthened the bank’s profitability indicators. Return on average shareholders’ equity rose to 13 percent from 11 percent in the first half of 2025, while return on average assets increased to 2.54 percent from 2.22 percent.
Afreximbank’s gross income also rose to $1.8 billion in the first half of 2026 from $1.6 billion a year earlier.
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The stronger lending was accompanied by an improvement in asset quality, with the non-performing loan (NPL) ratio falling to 2.20 percent at the end of June from 2.43 percent at year-end 2025.
The bank maintained a sound liquidity position, with liquid assets accounting for 13 percent of total assets, within its strategic target range of 10 to 15 percent.
Total assets and contingencies increased by 7.8 percent to $52.3 billion from $48.5 billion at the end of 2025, primarily driven by the expansion in lending activities.
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 cost-to-income ratio stood at 20 percent, compared with 19 percent in the corresponding period of 2025, despite higher personnel expenses and persistent inflationary pressures.
Afreximbank also strengthened its funding profile after the reporting period through 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, indicating strong investor demand.
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Denys Denya, Afreximbank’s senior executive vice president, said the bank’s financial performance and strong position reflected the resilience of the group as member countries navigate a 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,” Denya said.
He said the expansion of lending, strength of asset quality and continued access to diversified funding would enable the bank to remain responsive to immediate challenges while supporting the structural transformation of African and Caribbean economies.
The bank’s Basel II capital adequacy ratio stood at 22 percent at the end of the first half, compared with 23 percent at the end of 2025.
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
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