Afreximbank profit jumps 30% to $535 million as lending swells

The African Export-Import Bank (Afreximbank) reported a significant 30% increase in net income to $534.7 million for the first half of 2026, a stark contrast to the $412.7 million earned during the same period in 2025. The bank's higher performance was attributed to increased net interest income and additional fees and commissions, which underscored its continued expansion of lending and trade-related activities.

This positive financial statement was unveiled on August 24, 2026, during an announcement from Cairo, Egypt, covering the six months ending June 30, 2026.

The bank's total assets and contingencies rose by 7.8% to $52.3 billion, as compared to $48.5 billion at the end of 2025. This growth was mainly driven by an increase in lending, with net loans and advances expanding by 5.7% to $35.4 billion from $33.5 billion at the close of 2025. Afreximbank's earnings showed substantial improvement, with net interest income surging 22% to $1.0 billion from $0.84 billion in the first half of 2025.

Fees and commissions income also grew by 15% to $71.1 million from $61.9 million, bolstered by higher revenues from guarantees, letters of credit, and advisory services. The rise in profitability was further evident in the bank's ratios, with return on average shareholders' equity increasing to 13% from 11% in H1 2025, and return on average assets reaching 2.54% from 2.22%.

Denys Denya, Afreximbank's Senior Executive Vice President, attributed the robust performance to the Group's resilience despite the challenging global environment faced by its member countries. The half-year earnings growth was closely linked to the bank's lending activities, which saw a 5.7% rise in net loans and advances to $35.4 billion from $33.5 billion. Simultaneously, the bank maintained an NPL ratio of 2.20%, a decrease from 2.43% at year-end 2025.

Even with higher personnel expenses and inflationary pressures, the bank managed to keep its cost-to-income ratio at a relatively strong 20%, down from 19% in the previous year. Afreximbank's latest achievements come on the heels of a successful 2025 financial year, where the bank reported a profit of $1.15 billion, an increase from $973.5 million in 2024.

This growth was driven by interest income of $3.16 billion, up from $3.05 billion in 2024, alongside loan and advances totaling about $34 billion. Consequently, Afreximbank's financial position is now stronger as it continues to expand lending and finance trade, industrialization, and investment across African and Caribbean economies.

The bank's liquid assets stood at 13% of total assets at the end of June, which falls within its strategic target range of 10% to 15%.