…Net interest income rises 22% to $1bn, fee income up 15% to $71.1m
By: Goodluck E.Adubazi, Abuja.
The African Export-Import Bank (Afreximbank) has recorded a 30 per cent increase in net income to US$534.7 million in the first half of 2026, up from US$412.7 million recorded in the corresponding period of 2025.
The strong performance, according to the Pan-African multilateral financial institution, was driven by robust growth in interest earnings, fee and commission income, lending activities and sustained asset quality.
Afreximbank, in its financial results for the six months ended June 30, 2026, released yesterday, said net interest income rose by 22 per cent to US$1 billion, compared with US$840 million in H1 2025.
Similarly, fee and commission income increased by 15 per cent to US$71.1 million, from US$61.9 million in the corresponding period last year, supported by higher fees from guarantees, letters of credit and advisory services.
The Group’s gross income also increased to US$1.8 billion, compared with US$1.6 billion in H1 2025.
The improved earnings translated into stronger profitability, with return on average shareholders’ equity (ROAE) rising to 13 per cent from 11 per cent, while return on average assets (ROAA) increased to 2.54 per cent from 2.22 per cent.
Afreximbank’s balance sheet also expanded during the period. Total assets and contingencies increased by 7.8 per cent to US$52.3 billion, from US$48.5 billion at the end of 2025.
The growth was largely driven by increased lending, with net loans and advances rising by 5.7 per cent to US$35.4 billion, compared with US$33.5 billion at December 31, 2025.
Despite the expansion in lending, the bank maintained strong asset quality. Its non-performing loan (NPL) ratio improved to 2.20 per cent, from 2.43 per cent at year-end 2025.
The bank also maintained a sound liquidity position, with liquid assets accounting for 13 per cent of total assets, within its strategic target range of 10 to 15 per cent.
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.
Operational efficiency remained strong, although the cost-to-income ratio edged up to 20 per cent from 19 per cent, amid higher personnel expenses and persistent inflationary pressures.
The bank further strengthened its funding profile after the reporting period with a US$1.5 billion dual-tranche bond issuance, the largest international debt capital markets transaction in its history.
The transaction comprised US$750 million 5.5-year bonds and US$750 million 10-year bonds and was approximately twice oversubscribed, which the bank said reflected strong investor confidence in its financial strength and growth strategy.
Commenting on the performance, Afreximbank’s Senior Executive Vice President, Denys Denya, said the results demonstrated the resilience of the Group despite the complex global economic environment.
“Our financial performance and strong position reflect the continued resilience of the Group at a time when our member countries are navigating a particularly complex global environment,” Denya said.
He added that the bank’s healthy balance sheet had strengthened its capacity to respond to market disruptions while continuing to finance trade,
industrialisation and investment across African and Caribbean economies.
“The expansion of our lending, the strength of our asset quality and our continued access to diversified funding enable us to remain responsive to immediate challenges while supporting the structural transformation of African and Caribbean economies,” he said.
