The African Export-Import Bank Group (Afreximbank/Group) posted solid financial results for the first half of 2025, with higher income, improved liquidity, and stronger capital buffers despite a difficult global economic environment.
According to the consolidated financial statements released for the six months ended 30 June 2025, gross income grew 2.04% year-on-year to $1.6 billion, while net interest income rose 1.17% to $835.9 million. Fee and commission income from unfunded activities, including guarantees, letters of credit, and advisory services, reached $61.9 million.
The bank’s liquidity ratio improved sharply to 22% from 13% at year-end 2024, with cash and cash equivalents nearly doubling to $8.3 billion. On-balance sheet and contingent items grew 6% to $42.5 billion, although loans and advances fell slightly to $27.7 billion, reflecting early repayments by sovereign borrowers benefiting from stronger commodity prices and foreign exchange positions.
Operating expenses rose 21% due to strategic initiatives, new staff recruitment, and inflationary pressures. Even so, the Group maintained a cost-to-income ratio of 19%, well below its 30% ceiling. Non-performing loans stood at 2.48%, broadly stable from 2.33% at year-end 2024.
Shareholders’ funds increased to $7.3 billion, supported by internally generated profits of $412.7 million and new inflows under General Capital Increase II. The bank also appropriated a $350 million dividend for the 2024 financial year following shareholder approval at the June 2025 AGM.
Afreximbank announced that Dr. George Elombi will succeed Professor Benedict Oramah as President and Chairman of the Board in October 2025, following unanimous approval at the June AGM. Dr. Elombi, currently Executive Vice President for Governance, Legal and Corporate Services, has served nearly three decades at the bank.
Commenting on the results, Senior Executive Vice President Denys Denya said, “Afreximbank Group reported satisfactory performance in the first half of 2025, demonstrating agility and resilience despite operating in a challenging environment. The Group continued to support member states with innovative financial solutions, leveraging on a robust capital base, access to capital markets as reflected in the healthy liquidity position and Management’s excellent knowledge of the African and Caribbean markets.”
She added that, “Management’s unwavering commitment to its developmental mandate, advancing Africa’s and the Caribbean region’s development through trade, industrialisation and economic integration, remain the cornerstone of the Group’s success. The Group’s fundamentals remain strong, and management continues to focused on delivering long-term value to all stakeholders, while safeguarding Africa’s financial sovereignty.”
