By George Ozalla
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, as its total assets and contingencies rose by 12 per cent to US$54.1 billion.
The bank disclosed this in its financial results released in Cairo, Egypt, on Monday, October 26, 2026, attributing the growth in earnings to increased lending activities, improved interest income and disciplined cost management despite a challenging global operating environment.
Net income increased from US$654.3 million in the corresponding period of 2025, while gross income rose by 11 per cent to US$2.7 billion from US$2.4 billion.
The group’s total assets and contingencies grew from US$48.5 billion at the end of 2025 to US$54.1 billion by September 2026. Total assets stood at US$45.9 billion, compared with US$42.3 billion at the end of the previous year, while total liabilities increased to US$36.9 billion from US$33.9 billion.
Net loans and advances expanded by eight per cent to US$36.2 billion from US$33.5 billion at the end of 2025, reflecting increased demand for trade and project financing across the bank’s member countries.
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 growth was supported by an increase in average loan balances from US$28.9 billion to US$34.8 billion.
Net interest income also increased by 15 per cent to US$1.5 billion, while fees and commission income from unfunded business activities, including guarantees, letters of credit and advisory services, grew to US$136.9 million from US$117.2 million.
The bank maintained an improved cost-to-income ratio of 20 per cent, compared with 21 per cent in the nine months ended September 2025, remaining below its 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 of 2025.
On asset quality, the non-performing loans ratio stood at 2.48 per cent, compared with 2.43 per cent at December 31, 2025. Provisions for expected credit losses increased to US$537.6 million from US$481.3 million in the corresponding period of 2025.
The group’s liquid assets totalled 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 stood at 22 per cent, against 23 per cent at the end of the previous year.
Shareholders’ funds increased to US$9 billion from US$8.4 billion at the end of 2025, supported by internally generated profits and US$195.2 million in new equity contributions under the bank’s General Capital Increase programme.
Commenting on the results, Afreximbank’s Senior Executive Vice President, Denys Denya, said the performance demonstrated the bank’s capacity to sustain profitability while fulfilling its development mandate across Africa and the Caribbean.
“Our expanded lending portfolio, robust profitability and strong capital position demonstrate the effectiveness of our strategy and the growing relevance of our interventions across our target markets,” Denya stated.
He added that the bank remained committed to providing financing, trade facilitation and strategic investments to strengthen regional value chains, support industrialisation and accelerate Africa’s economic transformation amid continuing global economic and geopolitical uncertainties.
During the period, Afreximbank strengthened its access to international debt capital markets with a US$1.5 billion dual-tranche bond issuance completed in July 2026.
The issuance comprised US$750 million in 5.5-year notes and another US$750 million in 10-year notes. The transaction was approximately two times oversubscribed, indicating demand of about twice the amount offered.
Following the issuance, the group’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.
The bank also established its US$10 billion Gulf Crisis Response Programme to address the effects of geopolitical and economic disruptions on member countries.
The programme is designed to provide liquidity support, facilitate trade and payment flows, and help member countries maintain access to essential imports, including energy products, fertilisers, food and other strategic commodities.
In another development, Afreximbank’s high-impact investments increased by 23 per cent to US$1.6 billion from US$1.3 billion at the end of 2025. The investments support strategic development projects aimed at advancing industrialisation, improving trade competitiveness and strengthening economic resilience across its markets.
