African Export-Import Bank (Afreximbank) has reported a 24% increase in net income to $813.5 million for the nine months ended September 30, 2026, supported by higher interest income, an expanding loan portfolio and improved cost efficiency.
The bank disclosed the figures in its financial results released on Monday, October 26, 2026. Net income rose from $654.3 million recorded in the corresponding period of 2025, while gross income increased by 11% to $2.7 billion from $2.4 billion.
According to the results reported by The Guardian on October 27, 2026, the growth reflected increased lending activities and stronger earnings from financing operations across the bank’s member countries in Africa and the Caribbean.
Afreximbank’s net loans and advances increased by 8% to $36.2 billion at the end of September, compared with $33.5 billion at the end of December 2025. Total assets and contingencies rose by 12% to $54.1 billion from $48.5 billion over the same period.
Interest income climbed by approximately 9% to $2.4 billion from $2.2 billion in the first nine months of 2025. The bank’s average loan balances expanded to $34.8 billion from $28.9 billion, reflecting increased financing activity.
Net interest income, representing earnings from interest-bearing assets after interest expenses, rose by 15% to approximately $1.5 billion. Fees and commissions from services such as guarantees, letters of credit and advisory services also increased to $136.9 million from $117.2 million.
The bank maintained cost efficiency despite the expansion of its operations. Its cost-to-income ratio improved to 20% from 21% a year earlier, remaining below its strategic ceiling of 30%.
Return on average assets increased to 2.48% from 2.34%, while return on average shareholders’ equity remained at 12%.
However, the results also showed higher provisions against potential loan losses. Expected credit loss provisions rose to $537.6 million from $481.3 million in the corresponding period of 2025.
The non-performing loans ratio edged up to 2.48% from 2.43% at the end of December 2025, indicating a slight increase in the proportion of loans classified as non-performing.
The bank’s capital adequacy ratio moderated to 22% from 23% at the end of 2025, while shareholders’ funds increased to approximately $9 billion from $8.4 billion. The increase was supported by internally generated profits and $195.2 million in new equity contributions under its General Capital Increase programme.
Afreximbank also strengthened its access to international debt markets through a $1.5 billion dual-tranche bond issuance completed in July 2026. The transaction comprised $750 million in notes with a 5.5-year maturity and another $750 million in 10-year notes. The offering was twice oversubscribed.
The bank further highlighted its $10 billion Gulf Crisis Response Programme, designed to provide liquidity support and facilitate trade and payment flows amid geopolitical and economic disruptions. The initiative is intended to help member countries maintain access to essential imports, including energy products, fertilisers and food.
Commenting on the performance, Senior Executive Vice President Denys Denya said the results reflected the expansion of the lending portfolio, stronger profitability and the bank’s capital position.
He reaffirmed Afreximbank’s commitment to financing, trade facilitation and strategic investments aimed at strengthening regional value chains, supporting industrialisation and promoting economic development across Africa and the Caribbean.
The results underline the bank’s stronger earnings performance in 2026, although rising credit-loss provisions and the slight deterioration in its non-performing loan ratio remain important indicators to monitor as its lending portfolio expands.
