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Business Reporter
THE African Export-Import Bank (AfreximBank) has posted a solid performance for the six months ended June 30,2021 with a net income of US$168,9 million compared to US$150,75 million last year.
The increase was largely due to growth in interest income and a 13 percent decrease in interest expense arising from a cost-effective funding mix.
“The results, which reflected a net income of $168,9 million for the period, a 12 percent increase over $150,75 million recorded in 2020, were achieved largely due to the growth in interest income and a 13 percent decrease in interest expense arising from a cost-effective funding mix.
“AfreximBank’s total assets grew by 5,5 percent to US$20,37 billion as at 30 June 2021 from $19,31 billion as at 31 December 2020. This was driven predominantly by increases in loans and advances and cash and cash equivalents,” said AfreximBank in a statement.
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