African Export-Import Bank grew its net income by 24 per cent to $813.5m in the first nine months of 2026, as stronger lending income and improved cost efficiency lifted earnings.
The bank disclosed this in its financial results for the period ended 30 September, 2026, released on Monday.
Net income rose from $654.3m recorded in the corresponding period of 2025, while gross income increased by 11 per cent to $2.7bn from $2.4bn.
The growth came as the bank expanded its lending portfolio to meet demand for trade and project financing across its member countries.
Afreximbank’s total assets and contingencies rose by 12 per cent to $54.1bn at the end of September, compared with $48.5bn at the end of December 2025.
Net loans and advances increased by eight per cent to $36.2bn from $33.5bn over the same period.
Interest income climbed to $2.4bn from $2.2bn in the first nine months of 2025, supported by an increase in average loan balances to $34.8bn from $28.9bn.
Net interest income, which measures the difference between interest earned on loans and investments and interest paid on funding, rose by 15 per cent to $1.5bn.
The bank also earned $136.9m in fees and commissions from services such as guarantees, letters of credit and advisory services, up from $117.2m a year earlier.
Its cost-to-income ratio improved to 20 per cent from 21 per cent, remaining below the bank’s strategic ceiling of 30 per cent. The ratio measures how much a bank spends to generate income.
Return on average assets increased to 2.48 per cent from 2.34 per cent, while return on average shareholders’ equity remained at 12 per cent.
Despite the increase in earnings, the bank recorded higher provisions for potential loan losses.
Expected credit loss provisions rose to $537.6m from $481.3m in the corresponding period of 2025. The Non-Performing Loans ratio also edged up to 2.48 per cent from 2.43 per cent at the end of December 2025.
Shareholders’ funds increased to $9bn from $8.4bn at the end of 2025, supported by internally generated profits and $195.2m in new equity contributions under the bank’s General Capital Increase programme.
The capital adequacy ratio, which measures a bank’s capital against its risk-weighted assets, stood at 22 per cent, compared with 23 per cent at the end of last year.
Afreximbank’s liquid assets totalled $6.1bn, representing 13 per cent of total assets, down from 15 per cent at the end of 2025.
Commenting on the results, the bank’s Senior Executive Vice President, Denys Denya, said the performance reflected the expansion of its lending portfolio, stronger profitability and capital position.
He said Afreximbank would continue to provide financing, trade facilitation and strategic investments to strengthen regional value chains, support industrialisation and promote economic development across Africa and the Caribbean.
During the period, Afreximbank raised $1.5bn through a dual-tranche bond issuance completed in July 2026.
The transaction comprised $750m in notes with a 5.5-year maturity and another $750m in notes with a 10-year maturity. The offering attracted subscriptions twice the amount available.
Following the issuance, the bank’s debt securities increased to $4.4bn from $3.4bn at the end of 2025, helping diversify its funding sources.
The bank also highlighted its $10bn Gulf Crisis Response Programme, established to provide liquidity support and facilitate trade and payment flows amid geopolitical and economic disruptions.
The programme is intended to help member countries maintain access to essential imports, including energy products, fertilisers, food and other strategic commodities.
Meanwhile, Afreximbank’s high-impact investments rose by 23 per cent to $1.6bn from $1.3bn at the end of 2025.