Business Reporter
African Export-Import Bank (Afreximbank) has reported a 24 percent rise in net income to US$813.5 million for the nine months to 30 September 2026, up from US$654.3 million in the same period last year, as the pan-African lender continued to expand its loan book despite what it described as a challenging global operating environment.
The Cairo-based group said total assets and contingencies grew 12 percent to US$54.1 billion, from US$48.5 billion at the end of 2025, underpinned by an 8 percent increase in net loans and advances to US$36.2 billion.
Gross income rose 11 percent to US$2.7 billion, driven largely by a 9.1 percent increase in interest income to US$2.4 billion as average loan balances climbed from US$28.9 billion to US$34.8 billion. Net interest income strengthened by 15 percent to US$1.5 billion, while fees and commission income from guarantees, letters of credit and advisory services increased to US$136.9 million from US$117.2 million.
The bank improved its cost-to-income ratio to 20 percent, from 21 percent a year earlier and comfortably below its 30 percent strategic ceiling. Return on average assets edged up to 2.48 percent from 2.34 percent, although return on average shareholders’ equity was flat at 12 percent.
Asset quality remained broadly stable, with the non-performing loan ratio at 2.48 percent, compared with 2.43 percent at the end of December 2025. Provisions for expected credit losses rose to US$537.6 million from US$481.3 million.
Liquid assets totalled US$6.1 billion, representing 13 percent of total assets, down from 15 percent at the end of 2025, while the capital adequacy ratio slipped to 22 percent from 23 percent. Shareholders’ funds increased to US$9.0 billion from US$8.4 billion, supported by retained profits and US$195.2 million in new equity contributions under the bank’s General Capital Increase programme.
Afreximbank also strengthened its access to international debt markets, completing a US$1.5 billion dual-tranche bond issuance in July that was approximately two times oversubscribed. The transaction comprised US$750 million of 5.5-year notes and US$750 million of 10-year notes, lifting debt securities in issue to US$4.4 billion from US$3.4 billion.
The lender said its US$10 billion Gulf Crisis Response Programme had been established to provide liquidity support and help member countries maintain access to essential imports, including energy products, fertilisers and food. High-impact investments rose 23 percent to US$1.6 billion.
Denys Denya, Afreximbank’s senior executive vice-president, said: “This performance underscores Afreximbank’s ability to deliver strong and sustainable performance while continuing to fulfil its development mandate across Africa and the Caribbean.
“Our expanded lending portfolio, robust profitability and strong capital position demonstrate the effectiveness of our strategy and the growing relevance of our interventions across our target markets.”
He added that the bank remained committed to providing financing and trade facilitation “as global economic and geopolitical uncertainties persist”, citing support for regional value chains, industrialisation and the continent’s economic transformation.
Afreximbank, which is mandated to finance and promote intra- and extra-African trade, has total assets and contingencies of more than US$54.1 billion and shareholder funds of US$9.0 billion. It holds investment grade ratings from CCXI (AAA), GCR (A), JCR (A-), Moody’s (Baa2) and S&P Global Ratings (BBB+).
