The African Export-Import Bank (Afreximbank) has recorded a 24% increase in net income to US$813.5 million for the nine months ended September 30, 2026, demonstrating its ability to sustain strong earnings despite persistent global economic and geopolitical uncertainties.
The Group’s net income rose from US$654.3 million in the corresponding period of 2025, supported by increased lending activities, higher interest income and disciplined cost management.
The performance highlights the bank’s growing financial capacity to support trade, industrialisation and economic development across Africa and the Caribbean Community (CARICOM) at a time when countries continue to face external financing pressures and disruptions to international trade.
Alongside the rise in profitability, Afreximbank expanded its balance sheet, strengthened its shareholders’ funds and increased investments in high-impact development projects, reinforcing its position as a major source of financing for African economies.
Afreximbank’s Earnings Surge as Lending Expands
A key driver of the bank’s improved financial performance was the continued expansion of its lending portfolio, reflecting sustained demand for trade and project financing across its member countries.
Net loans and advances increased by 8% to US36.2billion,comparedwithUS33.5 billion at the end of 2025. Average loan balances also climbed from US28.9 billion in the first nine months of 2025 to US34.8 billion over the same period in 2026.
This expansion helped push gross income to US$2.7 billion, representing an 11% increase from the corresponding period last year.
Interest income rose by 9.1% to US2.4 billion from US2.2 billion, reflecting the contribution of a larger loan portfolio to the bank’s earnings.
Net interest income recorded an even stronger increase, climbing by 15% to US$1.5 billion. The growth demonstrates the importance of lending activities to Afreximbank’s profitability and its ability to generate income while financing trade and development initiatives.
The bank also recorded higher income from services that do not directly involve lending. Fees and commissions from unfunded business activities, including guarantees, letters of credit and advisory services, increased to US136.9 million from US117.2 million in the prior-year period.
The combined performance of lending and fee-based activities helped the institution maintain earnings growth while expanding its role in facilitating cross-border commerce.
Stronger Assets and Capital Position Boost Resilience
Afreximbank’s total assets and contingencies increased by 12% to US54.1billion, compared with US48.5 billion at the end of 2025.
The expansion reflects the growth of its lending operations and the wider scale of its financing activities across its target markets.
Shareholders’ funds also strengthened, reaching US9.0billionfromUS8.4 billion at the end of last year. The increase was supported by internally generated profits and US$195.2 million in new equity contributions under the bank’s General Capital Increase programme.
Meanwhile, the capital adequacy ratio stood at 22%, compared with 23% at the end of 2025. Although the ratio declined slightly, it remained a key indicator of the bank’s capacity to absorb potential financial shocks and sustain its operations.
Afreximbank also maintained a substantial liquidity position, with liquid assets totalling US$6.1 billion, equivalent to 13% of total assets. This compared with 15% at the end of 2025.
These indicators will remain important as the bank continues to finance trade, support strategic industries and respond to unexpected disruptions affecting member countries.
Efficiency Improves as Asset Quality Remains Sound
Beyond the increase in profit, Afreximbank recorded improvements in operational efficiency during the nine-month period.
Its cost-to-income ratio improved to 20%, down from 21% in the corresponding period of 2025. The ratio remained comfortably below the bank’s strategic ceiling of 30%, indicating that income growth continued to outpace operating costs.
Return on average shareholders’ equity remained at 12%, while return on average assets improved to 2.48% from 2.34% a year earlier.
Asset quality, however, requires continued attention as the bank expands its exposure to borrowers and projects across different economies.
The non-performing loans ratio stood at 2.48%, compared with 2.43% at the end of December 2025. Although the increase was modest, it points to the importance of maintaining effective credit assessment and risk management as lending expands.
Provisions for expected credit losses rose to US537.6million from US481.3 million in the corresponding period of 2025.
The increase in provisions reflects the need to account for potential credit risks, particularly in an operating environment shaped by geopolitical tensions, changing financing conditions and uncertainty across international markets.
US$1.5bn Bond Deal Strengthens Funding Capacity
Afreximbank also strengthened its access to international debt capital markets during the period, completing a US$1.5 billion dual-tranche bond issuance in July 2026.
The transaction comprised US750 million in 5.5-year notes and another US750 million in 10-year notes. The issuance was approximately two times oversubscribed, indicating investor demand for the bank’s debt securities.
Following the transaction, debt securities in issue increased to US4.4billion from US3.4 billion at the end of 2025.
The successful fundraising provides another source of financing as Afreximbank seeks to diversify its funding base and sustain lending to businesses, governments and strategic development projects.
US$10bn Gulf Crisis Programme Targets Trade Disruptions
The bank has also reinforced its countercyclical role through the establishment of a US$10 billion Gulf Crisis Response Programme.
The programme is designed to provide critical liquidity support, facilitate trade and payment flows, and help member countries maintain access to essential imports, including energy products, fertilisers, food and other strategic commodities.
The initiative comes as geopolitical and economic disruptions threaten trade routes, supply chains and access to essential goods, placing additional pressure on countries that depend heavily on imports.
Afreximbank’s high-impact investments also increased by 23% to US1.6billionfromUS1.3 billion at the end of 2025. These investments are intended to support development projects that strengthen industrialisation, trade competitiveness and economic resilience.
Commenting on the results, Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, said:
“This performance underscores Afreximbank’s ability to deliver strong and sustainable performance while continuing to fulfil its development mandate across Africa and the Carribean. Our expanded lending portfolio, robust profitability and strong capital position demonstrate the effectiveness of our strategy and the growing relevance of our interventions across our target markets.
“As global economic and geopolitical uncertainties persist, Afreximbank remains committed to providing the financing, trade facilitation and strategic investments needed to strengthen regional value chains, support industrialisation and accelerate the continent’s economic transformation.”
Balancing Profit Growth With Africa’s Financing Needs
Afreximbank’s nine-month results demonstrate how expanding lending activities, stronger interest income and disciplined cost management can support profitability even amid global uncertainty.
However, sustaining this performance will depend on the bank’s ability to manage credit risks, preserve adequate liquidity and maintain access to capital as its balance sheet grows.
Its financial results also carry broader significance for African economies seeking reliable financing for trade, infrastructure and industrial development.
With net income reaching US813.5 million, total assets and contingencies climbing to US54.1 billion and high-impact investments rising to US$1.6 billion, Afreximbank has strengthened its financial position while expanding its development activities.
The challenge ahead will be to translate that financial strength into lasting economic gains, stronger regional value chains and improved access to financing across Africa and the Caribbean.
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