Afreximbank Records 30% Rise Net Income For First Half 2026

The African Export-Import Bank (Afreximbank) and its subsidiaries (the Group) recorded a 30 per cent increase in net income to 534.7 million dollars in the first half of 2026.

The bank disclosed this in a statement issued by Vincent Musumba, Communications and Events Manager, Afreximbank, on Wednesday, on its financial results for the six months ended June 30, 2026.

Musumba said the performance reflected the resilience of its business model and its continued support for trade and economic development across Africa and the Caribbean.

According to the statement, total assets and contingencies rose by 7.8 per cent to 52.3 billion dollars from 48.5 billion dollars as of Dec.31, 2025.

It said the growth was driven largely by increased lending, with net loans and advances rising by 5.7 per cent to 35.4 billion dollars, compared with 33.5 billion dollars at the end of 2025.

The statement said the bank’s asset quality remained sound, with its non-performing loan (NPL) ratio improving to 2.20 per cent in the first half of 2026, from 2.43 per cent at year-end 2025.

It said the bank also maintained a sound liquidity position, with liquid assets accounting for 13 per cent of total assets, within its strategic target range of between 10 per cent and 15 per cent.

The statement said shareholders’ funds increased to 8.5 billion dollars from 8.4 billion dollars at the end of 2025.

“The increase was supported by 534.7 million dollars in internally generated profits and 13.9 million dollars in new equity raised during the period.”

It said the Net interest income increased by 22 per cent to 1.0 billion dollars, compared with the 0.84 billion dollars in the corresponding period of 2025.

The statement said fee and commission income also increased by 15 per cent to 71.1 million dollars, from 61.9 million dollars in the first half of 2025.

It said the bank attributed the increase to higher fees earned from guarantees, letters of credit and advisory services.

“ As a result, net income reached 534.7 million dollars, representing a 30 per cent increase from 412.7 million recorded in the first half of 2025.”

The statement said Profitability indicators also improved, with return on average shareholders’ equity rising to 13 per cent from 11 per cent in the first half of 2025.

“Return on average assets increased to 2.54 per cent from 2.22 per cent over the same period.”

It said operational efficiency remained strong, with the cost-to-income ratio at 20 per cent, compared with 19 per cent in the first half of 2025, in spite of higher personnel expenses and persistent inflationary pressures.

According to the statement, Afreximbank further strengthened its funding profile after the reporting period by completing a 1.5 billion-dollar dual-tranche bond issuance.

It said the transaction, described as the largest international debt capital markets issuance in the bank’s history, comprised a 750 million-dollar 5.5-year tranche and a 750 million-dollar 10-year tranche.

“The offering was approximately two times oversubscribed, highlighting strong investor confidence and reinforcing the bank’s capacity to support its strategic growth objectives.”

The statement quoted Mr Denys Denya, Afreximbank’s Senior Executive Vice-President, as saying the financial performance reflected the continued resilience of the Group amid 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,” he said.

Denya said the expansion of lending, strength of asset quality and continued access to diversified funding enabled the bank to remain responsive to immediate challenges.

He added that these strengths would also support the structural transformation of African and Caribbean economies.