Afreximbank H1 earnings rise 30% to $535m as loans climb to $35.4bn
By Eyo Nsima
The African Export-Import Bank (Afreximbank) recorded a 30 per cent increase in net income to $534.7 million in the first half of 2026, driven by stronger lending and higher interest income, while asset quality also improved.
Net income rose from $412.7 million in H1 2025, while net interest income increased 22 per cent to $1 billion. Net loans and advances grew 5.7 per cent to $35.4 billion, from $33.5 billion at the end of 2025.
Total assets and contingencies increased 7.8 per cent to $52.3 billion, while the non-performing loan ratio fell to 2.20 per cent, from 2.43 per cent at year-end 2025.
Return on average shareholders’ equity improved to 13 per cent, from 11 per cent in H1 2025, while return on average assets rose to 2.54 per cent from 2.22 per cent.
Fee and commission income also increased 15 per cent to $71.1 million, supported by higher earnings from guarantees, letters of credit and advisory services.
Commenting on the performance, Afreximbank’s Senior Executive Vice President, Denys Denya, said the results reflected the resilience of the Group amid a challenging global environment.
“Our financial performance and strong position reflect the continued resilience of the Group at a time when our member countries are navigating a particularly complex global environment,” Denya said.
He said the stronger balance sheet would enable the bank to respond to market disruptions while continuing to finance trade, industrialisation and investment.
“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 stronger lending, improved asset quality and diversified funding had positioned the bank to respond to immediate challenges while supporting longer-term economic transformation.
“The expansion of our lending, the strength of our asset quality and our continued access to diversified funding enable us to remain responsive to immediate challenges while supporting the structural transformation of African and Caribbean economies,” he said.
Afreximbank maintained a sound liquidity position, with liquid assets accounting for 13 per cent of total assets, within its strategic target range of 10 to 15 per cent.
Shareholders’ funds rose to $8.5 billion, supported by $534.7 million in internally generated profits and $13.9 million in new equity raised during the period.
The bank also strengthened its funding capacity after the reporting period through a $1.5 billion dual-tranche bond issuance, the largest international debt capital markets transaction in its history.
The issue comprised $750 million in a 5.5-year tranche and $750 million in a 10-year tranche and was approximately two times oversubscribed, indicating strong investor appetite for the bank’s debt.
The funding gives Afreximbank additional capacity to finance trade, industrialisation and investment as African economies seek greater access to capital for infrastructure and economic development.
The strong first-half performance leaves the bank with a stronger balance sheet, expanding lending capacity and improved asset quality as it enters the second half of 2026.
