Afreximbank’s net income rose to $534.7m in the first half of 2026 as lending expanded and non-performing loans declined, strengthening the bank’s capacity to finance trade and investment across Africa and the Caribbean.
The African Export-Import Bank (Afreximbank) recorded a 30 per cent increase in net income to $534.7 million in the first half of 2026, with stronger lending, higher interest income and improved asset quality driving the pan-African lender’s performance.
The bank’s net income rose from $412.7 million in the corresponding period of 2025, while net interest income increased by 22 per cent to $1 billion from $840 million.
Net loans and advances also grew by 5.7 per cent to $35.4 billion from $33.5 billion at the end of 2025, according to the bank’s financial results for the six months ended June 30, released on Monday.
The growth came as Afreximbank continued to expand financing for trade and economic development across Africa and the Caribbean.
The bank’s total assets and contingencies increased by 7.8 per cent to $52.3 billion, compared with $48.5 billion at the end of 2025.
Afreximbank lending grows as asset quality improves
Despite the expansion of its lending portfolio, Afreximbank’s non-performing loan ratio improved to 2.20 per cent at the end of June, compared with 2.43 per cent at the end of 2025.
The bank said the improvement reflected continued risk management, while its liquid assets accounted for 13 per cent of total assets, within its strategic target range of 10 to 15 per cent.
Fee and commission income also increased by 15 per cent to $71.1 million, up from $61.9 million in the first half of 2025.
The increase was supported by higher fees from guarantees, letters of credit and advisory services.
Profitability indicators also strengthened. Return on average shareholders’ equity rose 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 internally generated profits and $13.9 million in new equity raised during the period.
The bank’s cost-to-income ratio remained relatively low at 20 per cent, compared with 19 per cent in the corresponding period of 2025, despite higher personnel costs and inflationary pressures.
Afreximbank strengthens access to international funding
The half-year performance follows Afreximbank’s return to the US dollar public bond market in July, when it raised $1.5 billion in its largest-ever bond issuance.
The dual-tranche transaction comprised $750 million with a 5.5-year tenor and another $750 million with a 10-year tenor. The order book peaked at $3.8 billion, making the offering approximately two times oversubscribed.
The strong demand allowed the bank to tighten pricing by 37.5 basis points on each tranche, with final yields of 6.25 per cent for the shorter-dated bond and 7.125 per cent for the 10-year tranche.
The July transaction was Afreximbank’s first US dollar public bond issuance since 2021 and provided additional funding capacity as the bank expands its lending activities.
Afreximbank Senior Executive Vice President Denys Denya said the results 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.
The bank’s role is particularly significant for Nigeria, which has a long-standing relationship with the institution. The Central Bank of Nigeria has previously described Nigeria as a founding member and the largest single beneficiary of Afreximbank financing, with approximately $52 billion in trade and project financing received at the time of the CBN’s 2025 update.
Afreximbank has also partnered with the Nigerian Export-Import Bank and Nigerian Export Promotion Council on the Nigeria-Africa Trade and Investment Promotion Programme, which provides financing and guarantees to support Nigerian businesses trading and investing across Africa.
The latest results therefore point to more than stronger earnings for the bank itself. With lending expanding, asset quality improving and international investors continuing to provide funding, Afreximbank enters the second half of 2026 with greater financial capacity to support African trade, industrialisation and cross-border investment.
