African Export-Import Bank’s (Afreximbank) net income rose 24% to $813.5 million in the first nine months of 2026, as increased lending and interest earnings boosted profitability while the lender expanded its balance sheet to support trade and investment across Africa and the Caribbean.
The Cairo-based bank’s total assets and contingencies increased 12% to $54.1 billion at Sept. 30, from $48.5 billion at the end of 2025. Net loans and advances rose 8% to $36.2 billion over the same period, reflecting continued demand for trade and project financing, according to the bank’s results.
Gross income climbed 11% to $2.7 billion from a year earlier, while net interest income increased 15% to $1.5 billion. Interest income rose 9.1% to $2.4 billion, supported by growth in average loan balances to $34.8 billion from $28.9 billion.
The bank also earned $136.9 million in fees and commissions from activities including guarantees, letters of credit and advisory services, up from $117.2 million in the corresponding period of 2025.
Afreximbank’s cost-to-income ratio improved to 20% from 21% a year earlier, remaining below its strategic ceiling of 30%. Return on average shareholders’ equity held at 12%, while return on average assets increased to 2.48% from 2.34%.
Asset quality remained broadly stable, with the non-performing loan ratio edging up to 2.48% from 2.43% at the end of 2025. Provisions for expected credit losses rose to $537.6 million, compared with $481.3 million in the year-earlier period.
The bank’s liquidity position weakened relative to year-end 2025, with liquid assets equivalent to 13% of total assets, down from 15%. Its capital adequacy ratio declined to 22% from 23%, while shareholders’ funds increased to $9 billion from $8.4 billion, supported by retained profits and $195.2 million in new equity contributions under its General Capital Increase programme.
Afreximbank also raised $1.5 billion through a dual-tranche bond issuance in July, comprising $750 million in 5.5-year notes and $750 million in 10-year notes. The transaction was approximately twice oversubscribed, the bank said. Debt securities in issue rose to $4.4 billion from $3.4 billion at the end of 2025, diversifying its funding sources.
The lender said it established a $10 billion Gulf Crisis Response Programme to provide liquidity support and help member countries maintain trade and payment flows amid geopolitical and economic disruptions. The programme is intended to support access to essential imports, including energy, fertiliser and food.
High-impact investments increased 23% to $1.6 billion from $1.3 billion at the end of 2025, according to the bank.
“This performance underscores Afreximbank’s ability to deliver strong and sustainable performance while continuing to fulfil its development mandate across Africa and the Caribbean,” Senior Executive Vice President Denys Denya said.
He said the bank would continue providing financing, trade facilitation and strategic investments to strengthen regional value chains and support industrialisation as global economic and geopolitical uncertainties persist.
The results show higher earnings and lending alongside a larger funding base, while the increase in non-performing loans and declines in liquidity and capital adequacy ratios point to areas to monitor as the bank continues expanding its financing activities.
