The African Export-Import Bank (Afreximbank) has recorded a 24 per cent increase in net income to US$813.5 million for the nine months ended September 30, 2026, supported by higher lending income and growth in its financing activities across Africa and the Caribbean.
The bank’s net income rose from US$654.3 million during the corresponding period in 2025, while its total assets and contingencies increased by 12 per cent to US$54.1 billion, compared with US$48.5 billion at the end of 2025.
The growth in earnings coincided with an expansion of the bank’s lending portfolio, with net loans and advances rising by eight per cent to US$36.2 billion from US$33.5 billion at the end of 2025.
Afreximbank’s gross income also increased by 11 per cent to US$2.7 billion, reflecting continued balance-sheet growth and stronger earnings generation.
Interest income rose by 9.1 per cent to US$2.4 billion from US$2.2 billion in the corresponding period of 2025. The bank attributed the increase partly to growth in average loan balances, which climbed from US$28.9 billion to US$34.8 billion.
Net interest income increased by 15 per cent to US$1.5 billion, while fees and commissions from activities such as guarantees, letters of credit and advisory services rose to US$136.9 million from US$117.2 million.
Efficiency and asset quality remain firm
Despite the expansion of its lending operations, Afreximbank maintained operational efficiency during the period.
Its cost-to-income ratio improved to 20 per cent from 21 per cent in the first nine months of 2025, remaining below the bank’s strategic ceiling of 30 per cent.
Return on average shareholders’ equity stood at 12 per cent, while return on average assets improved to 2.48 per cent from 2.34 per cent in the corresponding period last year.
Asset quality remained relatively stable, with the non-performing loans ratio edging up to 2.48 per cent from 2.43 per cent at the end of December 2025.
However, provisions for expected credit losses increased to US$537.6 million from US$481.3 million in the same period of 2025.
The bank’s liquid assets stood at US$6.1 billion, representing 13 per cent of total assets, compared with 15 per cent at the end of 2025.
Its capital adequacy ratio was 22 per cent, down from 23 per cent at the end of 2025, while shareholders’ funds increased to US$9 billion from US$8.4 billion.
The increase in shareholders’ funds was supported by internally generated profits and US$195.2 million in new equity contributions under the bank’s General Capital Increase programme.
Access to international funding expands
Afreximbank also strengthened its access to international debt capital markets during the period, completing a US$1.5 billion dual-tranche bond issuance in July 2026.
The transaction comprised US$750 million in 5.5-year notes and another US$750 million in 10-year notes. The issuance was approximately two times oversubscribed.
Following the transaction, the bank’s debt securities in issue increased to US$4.4 billion from US$3.4 billion at the end of 2025, further diversifying its funding base.
Commenting on the results, Senior Executive Vice President of Afreximbank, Denys Denya, said the performance demonstrated the institution’s ability to sustain growth while continuing to fulfil its development mandate across Africa and the Caribbean Community (CARICOM).
He said the expansion of the lending portfolio, profitability and capital position reflected the bank’s strategy and the growing relevance of its interventions in its target markets.
Mr Denya added that the bank remained committed to providing financing, trade facilitation and strategic investments to strengthen regional value chains, support industrialisation and advance economic transformation.
US$10bn crisis response programme
Beyond its financial performance, Afreximbank continued to position itself as a source of financing for member countries facing economic and geopolitical disruptions.
The bank established a US$10 billion Gulf Crisis Response Programme to provide liquidity support, facilitate trade and payment flows, and help member countries maintain access to essential imports.
The programme covers critical commodities, including energy products, fertilisers, food and other strategic goods.
The bank’s high-impact investments also increased by 23 per cent to US$1.6 billion from US$1.3 billion at the end of 2025, supporting projects intended to advance industrialisation, trade competitiveness and economic resilience.
The nine-month results highlight Afreximbank’s expanding lending operations and stronger earnings, alongside its continued efforts to mobilise funding and finance trade and development initiatives across its member countries.
