Afreximbank Profit Surges 30% to $535 Million in First Half of 2026
A stronger lending book and higher interest and fee income lift the pan-African lender’s earnings as assets expand to $52.3 billion
The African Export-Import Bank (Afreximbank) reported a 30 percent increase in net income to US$534.7 million for the six months ended June 30, 2026, as stronger lending activity and higher interest and fee income boosted the bank’s financial performance.
Net income rose from US$412.7 million in the first half of 2025 to US$534.7 million in H1 2026, according to the bank’s financial results released on August 24.
The growth came alongside a significant expansion of the Group’s balance sheet. Total assets and contingencies increased 7.8 percent to US$52.3 billion, compared with US$48.5 billion at the end of December 2025.
Lending Drives Balance-Sheet Growth
Afreximbank’s lending business remained the main driver of balance-sheet expansion.
Net loans and advances increased 5.7 percent to US$35.4 billion, up from US$33.5 billion at the end of 2025.
Despite the expansion, asset quality improved. The bank’s non-performing loan ratio declined to 2.20 percent, from 2.43 percent at the end of 2025.
| Financial Performance | H1 2026 | H1 2025 | Change |
| Gross income | $1.8bn | $1.6bn | +12.5% |
| Net interest income | $1.0bn | $0.84bn | +22% |
| Fee & commission income | $71.1m | $61.9m | +15% |
| Net income | $534.7m | $412.7m | +30% |
| Return on average equity | 13% | 11% | +2pp |
| Return on average assets | 2.54% | 2.22% | +0.32pp |
| Cost-to-income ratio | 20% | 19% | +1pp |
Interest income provided the largest boost to earnings, with net interest income increasing 22 percent to US$1 billion from US$840 million a year earlier.
Fee and commission income also increased 15 percent to US$71.1 million, supported by higher fees from guarantees, letters of credit and advisory services.
Profitability Improves
The stronger earnings translated into improved profitability ratios.
Return on average shareholders’ equity increased to 13 percent, compared with 11 percent in H1 2025, while return on average assets rose to 2.54 percent from 2.22 percent.
Operational efficiency remained relatively strong despite higher personnel expenses and inflationary pressures. The cost-to-income ratio increased slightly to 20 percent from 19 percent.
Asset Quality and Liquidity Remain Strong
Afreximbank maintained a liquid balance sheet, with liquid assets representing 13 percent of total assets, within its strategic target range of 10 to 15 percent.
The NPL ratio also improved during the period:
| Financial Position | H1 2026 | FY 2025 |
| Total assets | $43.4bn | $42.3bn |
| Total liabilities | $34.8bn | $33.9bn |
| Shareholders’ funds | $8.5bn | $8.3bn |
| NPL ratio | 2.20% | 2.43% |
| Liquidity position | 13% | 15% |
| Capital adequacy ratio | 22% | 23% |
Shareholders’ funds increased to US$8.5 billion, supported by US$534.7 million in internally generated profits and US$13.9 million in new equity raised during the period.
The bank’s Basel II capital adequacy ratio stood at 22 percent, compared with 23 percent at the end of 2025.
$1.5 Billion Bond Deal Sets New Record
Afreximbank further strengthened its funding position after the reporting period through a US$1.5 billion dual-tranche bond issuance.
The transaction was the largest international debt capital markets issuance in the bank’s history and consisted of:
- US$750 million 5.5-year tranche
- US$750 million 10-year tranche
The offering was approximately two times oversubscribed, which the bank said reflected strong investor demand and confidence in its funding profile.
The new financing capacity comes as Afreximbank continues expanding lending to support trade, industrialisation and investment across African and Caribbean economies.
Lending Capacity Expands as Africa Faces Financing Needs
The results highlight the growing scale of Afreximbank’s role in financing trade and economic development across its member countries.
The bank said its stronger balance sheet gives it capacity to respond to market disruptions while continuing to finance trade, industrialisation and investment.
For African economies, the expansion of Afreximbank’s lending capacity is particularly relevant as governments and businesses continue to face financing constraints, foreign-exchange pressures and elevated costs of accessing international capital.
With net loans already reaching US$35.4 billion and the bank securing another US$1.5 billion through international debt markets, Afreximbank enters the second half of 2026 with both a larger lending book and strengthened access to external funding.
The combination of rising profits, expanding lending and improved asset quality leaves the pan-African lender in a stronger financial position to support trade and investment across the continent.