The African Export-Import Bank (Afreximbank) reported a 30% increase in first-half net income to $534.7 million, helped by stronger lending and higher fees as the development lender continued to expand financing across Africa and the Caribbean.
Net income rose from $412.7 million in the first six months of 2025, while net interest income increased 22% to $1 billion, according to the bank’s results for the six months ended June 30.
Afreximbank’s net loans and advances rose 5.7% to $35.4 billion from $33.5 billion at the end of 2025, driving an increase in total assets and contingencies to $52.3 billion.
The lender maintained asset quality during the expansion, with its non-performing loan ratio improving to 2.20% from 2.43% at the end of last year.
Fee and commission income increased 15% to $71.1 million, supported by higher revenue from guarantees, letters of credit and advisory services.
Stronger returns
Afreximbank’s return on average shareholders’ equity increased to 13% from 11%, while return on average assets rose to 2.54% from 2.22%.
The cost-to-income ratio was 20%, compared with 19% a year earlier, as higher personnel costs and inflationary pressures weighed on operating expenses.
Shareholders’ funds increased to $8.5 billion, supported by $534.7 million in internally generated profits and $13.9 million in new equity during the period.
The bank maintained liquid assets at 13% of total assets, within its strategic target range of 10% to 15%.
$1.5 billion bond raises funding
Afreximbank strengthened its funding position after the reporting period with a $1.5 billion dual-tranche bond issuance, its largest international debt-capital-markets transaction.
The deal comprised $750 million of 5.5-year notes and another $750 million tranche with a 10-year maturity. The offering was about two times oversubscribed, signalling continued investor appetite for the lender’s debt.
The stronger funding position gives Afreximbank additional capacity to expand lending as African and Caribbean economies seek financing for trade, infrastructure and industrial development.
“Our healthy balance sheet gives us the capacity to respond when markets are disrupted, while continuing to finance the trade, industrialisation and investment that underpin longer-term economic resilience,” Denys Denya, Afreximbank’s senior executive vice president, said.
