The African Export-Import Bank (Afreximbank) has strengthened its financial position in the first half of 2026, posting a 30 per cent increase in net income to $534.7 million as stronger lending, trade finance and fee-based activities boosted earnings.

The latest performance, disclosed Monday in the bank’s half-year results for the six months ended June 30, 2026, marks a significant improvement from the $412.7 million recorded in the corresponding period of 2025.

The results point to a growing alignment between Afreximbank’s commercial performance and its development mandate as demand for financing across African and Caribbean economies continues to expand.

Net loans and advances increased 5.7 per cent to $35.4 billion from $33.5 billion at the end of 2025. At the same time, net interest income climbed 22 per cent to $1 billion, compared with $840 million in the first half of 2025.

Fee and commission income also rose 15 per cent to $71.1 million from $61.9 million, supported by increased activity in guarantees, letters of credit and advisory services. Overall, gross income increased to $1.8 billion from $1.6 billion a year earlier.

After the reporting period, the bank raised $1.5 billion through a dual-tranche bond comprising $750 million with a 5.5-year maturity and another $750 million with a 10-year maturity.

Despite higher personnel expenses and inflationary pressures, Afreximbank’s cost-to-income ratio remained relatively contained at 20 per cent, compared with 19 per cent in the first half of 2025.

Denys Denya, Senior Executive Vice President of Afreximbank, said the performance demonstrated the resilience of the Group amid a difficult global environment.

He said the bank’s balance sheet provided the capacity to respond to market disruptions while continuing to finance trade, industrialisation and investment across its member countries.

Dr. Kingsley Moghalu, economist and former CBN deputy governor, said development finance institutions such as Afreximbank have a critical role to play in reducing Africa’s infrastructure and trade-financing gaps, but warned that expansion must be matched by disciplined risk management.

Intra-African trade increased 5.47 per cent to $213.8 billion in 2025 from $202.7 billion a year earlier, with countries including Ethiopia, Uganda, the Democratic Republic of Congo and Zambia recording strong growth.

South Africa remained the largest contributor to intra-African trade, while Côte d’Ivoire continued to play a significant role in West Africa.

The figures reinforce the potential of the African Continental Free Trade Area (AfCFTA) to generate increased demand for cross-border finance, guarantees, payment services and investment.

Afreximbank’s stronger earnings therefore come at a strategically important moment. Its challenge will be to maintain profitability and asset quality while expanding financing to economies and businesses that often face significant credit and currency risks.

With shareholders’ funds rising to $8.5 billion and liquid assets accounting for 13 per cent of total assets—within the bank’s strategic target range of 10 to 15 per cent—Afreximbank enters the second half of 2026 with a relatively strong financial buffer.