The African Export-Import Bank (Afreximbank) reported higher first-quarter 2026 earnings and steady balance sheet growth, supported by stronger lending activity and resilient interest income despite ongoing global financial and geopolitical pressures.
Total credit exposure rose 2% to $42 billion as of 31 March 2026, up from $41 billion at the end of December 2025, underscoring continued expansion in trade finance and infrastructure lending across Africa and the Caribbean.
Average loans and advances increased 8% year-on-year to $32 billion, driving higher interest income and reinforcing the bank’s position as a key financier of trade-enabling projects and regional integration.
Profit for the period rose to $268.9 million in Q1 2026, compared with $215.4 million a year earlier, as net interest income climbed 24% to $510 million. Total interest income increased 14% to $813.6 million, supported by higher lending volumes even as global benchmark rates eased.
Liquidity remained solid, with cash and cash equivalents at $5.6 billion, representing 14% of total assets and consistent with year-end 2025 levels. Asset quality was broadly stable, with the non-performing loan ratio at 2.40%, slightly improved from 2.43% at FY2025 and below industry averages.
Shareholders’ funds increased to $8.6 billion from $8.4 billion at the end of 2025, supported by internally generated capital of $268.9 million and fresh equity injections during the quarter.
Operational efficiency remained firm, with the cost-to-income ratio at 19%, well below the bank’s internal ceiling of 30%. Return on average equity improved to 13% from 12%, while return on average assets rose to 2.62% from 2.38%.
Capital strength remained a key buffer, with a capital adequacy ratio of 23%, unchanged from FY2025 and comfortably above regulatory requirements.
During the quarter, Afreximbank expanded its counter-cyclical support tools, launching a $10 billion Gulf Crisis Response Programme to cushion member states from spillovers linked to geopolitical tensions in the Gulf region. The facility is designed to support liquidity, stabilise trade flows and address disruptions in critical import sectors including energy, aviation, food and fertilisers.
The bank also advanced its integration agenda following South Africa’s ratification of its establishment agreement in February 2026, giving the institution full continental membership coverage and strengthening its mandate across Africa and the Caribbean.
Denys Denya, Senior Executive Vice President of Afreximbank, said the results reflected disciplined execution in a difficult environment.
“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate. Our swift launch of the US$10 billion Gulf Crisis Response Programme further underscores Afreximbank’s counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilising trade flows, easing liquidity pressures and advancing the industrial and economic transformation of Africa and the Caribbean.”
