By African Export-Import Bank reported a 30% rise in net income to $534.7 million for the first half of 2026, the Pan-African lender said on Monday, citing higher interest income and expanding loan books.
Net income for the six months ended June 30 compared with $412.7 million in the same period a year earlier, Afreximbank said in a statement.
The Cairo-based multilateral bank, which finances trade across Africa and the Caribbean, said net interest income climbed 22% to $1.0 billion from $0.84 billion in the first half of 2025.
Fee and commission income rose 15% to $71.1 million from $61.9 million, driven by higher fees from guarantees, letters of credit and advisory services, the bank said.
Total assets and contingencies increased 7.8% to $52.3 billion as of June 30, up from $48.5 billion at the end of 2025. Net loans and advances grew 5.7% to $35.4 billion from $33.5 billion over the same period, Afreximbank said.
The bank’s non-performing loan ratio improved to 2.20% at the end of the first half, from 2.43% at the end of 2025, which it attributed to prudent risk management.
Liquid assets accounted for 13% of total assets, within the bank’s targeted range of 10% to 15%, it said.
Shareholders’ funds rose to $8.5 billion from $8.4 billion at the end of 2025, supported by $534.7 million in retained profit and $13.9 million in new equity raised during the period, according to the statement.
Return on average shareholders’ equity increased to 13% from 11% a year earlier, while return on average assets rose to 2.54% from 2.22%. Its cost-to-income ratio edged up to 20% from 19%, which it attributed to higher personnel costs and inflationary pressures.
“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,” Denys Denya, Afreximbank’s senior executive vice president, said in the statement.
Denya said the bank’s balance sheet gave it capacity to respond to market disruptions while continuing to finance trade, industrialisation and investment in African and Caribbean economies.
After the reporting period, Afreximbank completed a $1.5 billion dual-tranche bond sale, its largest international debt capital markets issuance to date, the bank said.
The offering comprised a $750 million tranche maturing in 5.5 years and a $750 million tranche maturing in 10 years, and was about twice oversubscribed, according to the statement.
Afreximbank carries investment-grade ratings from several agencies, including AAA from China Chengxin International Credit Rating, A from GCR, A- from Japan Credit Rating Agency, Baa2 from Moody’s and BBB+ from S&P Global Ratings, the bank said.
Afreximbank is a multilateral financial institution established more than three decades ago to finance and promote trade within Africa and between Africa and other regions. It is headquartered in Cairo and counts African governments, central banks and financial institutions among its shareholders.
The bank has positioned itself as a key financier of the African Continental Free Trade Area, and it developed the Pan-African Payment and Settlement System, which the African Union adopted as the payment platform underpinning the trade pact.
Afreximbank has in recent months extended financing to several African countries and companies, including a 110-million-euro facility to Chad this month and a $190 million loan package for Zimbabwe’s CBZ Bank in July.
The bank’s half-year results add to a series of announcements this year highlighting its funding activity and credit standing, including the affirmation last week of its AAA rating by China Chengxin International Credit Rating.
