Lagos: The African Export-Import Bank (Afreximbank) and its subsidiaries recorded a 30 per cent increase in net income to 534.7 million dollars in the first half of 2026. The bank disclosed this in a statement issued by Vincent Musumba, Communications and Events Manager, Afreximbank, on Wednesday, regarding its financial results for the six months ended June 30, 2026.
According to News Agency of Nigeria, the performance reflected the resilience of Afreximbank’s business model and its ongoing support for trade and economic development across Africa and the Caribbean. The statement revealed that total assets and contingencies rose by 7.8 per cent to 52.3 billion dollars from 48.5 billion dollars as of December 31, 2025. This growth was driven largely by increased lending, with net loans and advances rising by 5.7 per cent to 35.4 billion dollars, compared with 33.5 billion dollars at the end of 2025.
The statement further noted that the bank’s asset quality remained sound, with its non-performing loan (NPL) r
atio improving to 2.20 per cent at the first half of 2026, from 2.43 per cent at year-end 2025. Additionally, Afreximbank maintained a solid liquidity position, with liquid assets accounting for 13 per cent of total assets, within its strategic target range of between 10 per cent and 15 per cent.
Shareholders’ funds increased to 8.5 billion dollars from 8.4 billion dollars at the end of 2025. This increase was supported by 534.7 million dollars in internally generated profits and 13.9 million dollars in new equity raised during the period. Net interest income rose by 22 per cent to 1.0 billion dollars, compared with 0.84 billion dollars in the corresponding period of 2025. Fee and commission income also grew by 15 per cent to 71.1 million dollars, from 61.9 million dollars in the first half of 2025, attributed to higher fees from guarantees, letters of credit, and advisory services.
Profitability indicators improved, with return on average shareholders’ equity rising to 13 per cent from 11 per cent in the f
irst half of 2025, and return on average assets increasing to 2.54 per cent from 2.22 per cent over the same period. Despite higher personnel expenses and persistent inflationary pressures, operational efficiency remained robust, with the cost-to-income ratio at 20 per cent, compared with 19 per cent in the first half of 2025.
Afreximbank further strengthened its funding profile after the reporting period by completing a 1.5 billion-dollar dual-tranche bond issuance, described as the largest international debt capital markets issuance in the bank’s history. The offering was approximately two times oversubscribed, highlighting strong investor confidence and reinforcing the bank’s capacity to support its strategic growth objectives.
The statement quoted Mr Denys Denya, Afreximbank’s Senior Executive Vice-President, as saying the financial performance reflected the continued resilience of the Group amid a complex global environment. Denya emphasized that the expansion of lending, strength of asset quality, and
continued access to diversified funding enabled the bank to remain responsive to immediate challenges and would support the structural transformation of African and Caribbean economies.