Online Reporter
Business Reporter
African Export-Import Bank (Afreximbank) and its subsidiaries have posted a 30 percent jump in net income for the first half of 2026, driven by robust growth in lending and fee income, while maintaining tight control over asset quality.
Net income rose to US$534,7 million in the six months to 30 June, up from US$412,7 million in the same period last year, the Pan-African multilateral lender said on Monday. Net interest income climbed 22 percent to US$1,0 billion, supported by a 5,7 percent expansion in net loans and advances, which reached US$35,4 billion.
Fee and commission income increased 15 percent to US$71,1 million, buoyed by higher earnings from guarantees, letters of credit and advisory services.
The Group’s total assets and contingencies grew 7,8 percent to US$52,3 billion, compared with US$48,5 billion at the end of 2025, reflecting continued strength in its core lending operations.
Asset quality improved, with the non-performing loan ratio falling to 2,20 percent from 2,43 percent at year-end 2025. The Bank said this underscored its prudent risk-management framework.
Profitability indicators strengthened further. Return on average shareholders’ equity rose to 13 percent from 11 percent in H1 2025, while return on average assets increased to 2,54 percent from 2,22 percent.
The cost-to-income ratio remained healthy at 20 percent, compared with 19 percent a year earlier, despite higher personnel expenses and persistent inflationary pressures.
Shareholders’ funds grew to US$8,5 billion from US$8,4 billion at the end of 2025, supported by US$534,7 million in internally generated profits and US$13,9 million in fresh equity raised during the period.
Liquid assets accounted for 13 percent of total assets, comfortably within the Bank’s strategic target range of 10 to 15 percent, it added.
After the reporting period, Afreximbank successfully completed a US$1,5 billion dual-tranche bond issuance – the largest international debt capital markets transaction in its history. The offering comprised a US$750 million 5.5-year tranche and a US$750 million 10-year tranche, and was approximately two times oversubscribed, signalling strong investor confidence.
Senior Executive Vice President, Mr Denys Denya, said the results demonstrated the Group’s resilience at a time when member countries were navigating a particularly 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,” Mr Denya said.
He added that the expansion of lending, strength of asset quality and continued access to diversified funding enabled the Bank to remain responsive to immediate challenges while supporting the structural transformation of African and Caribbean economies.
