Afreximbank has reported a sharp rise in half-year profit, with net income climbing 30% to $534.7 million as stronger lending activity boosted earnings across the group.
The African Export-Import Bank recorded the result for the six months ended June 30, 2026, compared with $412.7 million in the same period last year. The figures point to continued demand for trade and development financing across Africa and the Caribbean.
A major driver of the performance was the bank’s lending portfolio. Net loans and advances increased 5.7% to $35.4 billion from $33.5 billion at the end of 2025, helping push net interest income up 22% to $1 billion.
Fees and commissions also grew by 15% to $71.1 million, supported by services including guarantees, letters of credit and advisory activities. The stronger earnings lifted return on average shareholders’ equity to 13%, compared with 11% a year earlier, while return on average assets rose to 2.54% from 2.22%.
The bank also recorded an improvement in asset quality. Its non-performing loan ratio fell to 2.20%, down from 2.43% at the end of 2025, even as its balance sheet expanded. Total assets and contingencies rose 7.8% to $52.3 billion from $48.5 billion, while shareholders’ funds reached $8.5 billion.
Afreximbank President and Chairman of the Board, Denys Denya, said the results reflected the group’s resilience despite a difficult global environment. He said the bank’s balance sheet provided enough capacity to respond to market disruptions while continuing to support trade, industrialisation and investment.
Funding capacity also received a boost after the reporting period when Afreximbank raised $1.5 billion through a dual-tranche international bond. The deal consisted of $750 million with a 5.5-year maturity and another $750 million with a 10-year maturity, with the transaction reportedly attracting orders of about twice the amount offered.
Despite rising personnel expenses and inflationary pressure, the group kept its cost-to-income ratio relatively stable at 20%, compared with 19% in the first half of 2025. The latest performance builds on the bank’s $1.15 billion full-year profit in 2025, as it seeks to expand its role in financing Africa’s trade and investment needs.
