African Export-Import Bank has reported a 24 per cent increase in net profit to $813.5mn for the first nine months of 2026, supported by stronger lending activity and interest income, as the pan-African lender expanded its balance sheet to more than $54bn in assets and contingent exposures.
The Cairo-based multilateral financial institution said on Monday that net income rose from $654.3mn in the corresponding period last year, reflecting sustained demand for trade and project financing across its African member countries and the Caribbean.
Total assets and contingencies increased 12 per cent to $54.1bn at the end of September, compared with $48.5bn at the close of 2025, while net loans and advances grew 8 per cent to $36.2bn.
The results underscore the bank’s expanding role in financing trade, infrastructure and industrial development across Africa, even as geopolitical uncertainty and volatile global economic conditions continue to affect regional economies.
Gross income climbed 11 per cent to $2.7bn during the nine-month period, supported by a 9.1 per cent increase in interest income to $2.4bn.
Average loan balances rose to $34.8bn from $28.9bn a year earlier, reflecting increased financing activity, while net interest income advanced 15 per cent to $1.5bn.
Income from fees and commissions on guarantees, letters of credit and advisory services also increased, reaching $136.9mn compared with $117.2mn in the corresponding period of 2025.
Lending growth supports profitability
Afreximbank attributed its earnings growth to the expansion of its lending portfolio, stronger interest income and continued control of operating expenses.
Its cost-to-income ratio improved to 20 per cent from 21 per cent a year earlier, remaining below the institution’s strategic ceiling of 30 per cent.
Return on average shareholders’ equity remained unchanged at 12 per cent, while return on average assets increased to 2.48 per cent from 2.34 per cent.
Denys Denya, Afreximbank’s senior executive vice-president, said the results demonstrated the lender’s ability to expand its development financing activities while maintaining profitability.
“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,” Denya said.
He added that the institution remained focused on supporting regional value chains, industrialisation and trade integration despite continuing economic and geopolitical uncertainty.
The bank’s financial position also strengthened during the period, with shareholders’ funds increasing to $9bn from $8.4bn at the end of 2025.
The increase was supported by retained earnings and $195.2mn in new equity contributions under its General Capital Increase programme.
However, some balance sheet indicators showed modest deterioration.
The non-performing loans ratio increased to 2.48 per cent from 2.43 per cent at the end of 2025, while provisions for expected credit losses rose to $537.6mn from $481.3mn a year earlier.
The rise in provisions indicates that the bank is setting aside more funds against potential loan losses as its lending activities expand.
Liquidity and capital buffers remain substantial
Afreximbank reported liquid assets of $6.1bn at the end of September, equivalent to 13 per cent of total assets, compared with 15 per cent at the end of 2025.
Its capital adequacy ratio declined slightly to 22 per cent from 23 per cent over the same period.
Despite the reductions, the bank said its liquidity and capital positions remained strong enough to support continued lending and investment.
Total assets, excluding contingent exposures, reached $45.9bn, up from $42.3bn at the end of 2025, while liabilities increased to $36.9bn from $33.9bn.
The bank also expanded its access to international debt markets, completing a $1.5bn dual-tranche bond issuance in July.
The transaction comprised $750mn in 5½-year notes and a further $750mn in 10-year notes. Investor demand was approximately twice the amount offered, according to the bank.
Following the issuance, outstanding debt securities increased to $4.4bn from $3.4bn at the end of 2025, providing additional funding to support lending activities and diversify the institution’s financing sources.
$10bn crisis programme targets trade disruptions
Afreximbank has also expanded its financial interventions aimed at cushioning African economies against external economic shocks.
During the period, the institution established a $10bn Gulf Crisis Response Programme to support countries facing disruptions to trade, payment systems and access to essential imports.
The initiative is designed to provide liquidity and trade financing for critical commodities, including energy products, fertilisers and food.
The programme reflects Afreximbank’s efforts to act as a countercyclical lender, providing financing during periods when geopolitical tensions or market disruptions constrain access to commercial funding.
The bank has increasingly positioned itself as a source of long-term capital for African industrialisation, cross-border trade and infrastructure development.
Its portfolio of high-impact investments increased 23 per cent to $1.6bn at the end of September, compared with $1.3bn at the close of 2025.
These investments support projects intended to strengthen industrial capacity, trade competitiveness and economic resilience.
Financing Africa’s trade integration
Established to promote intra-African and international trade, Afreximbank has become a significant financing institution for projects linked to the African Continental Free Trade Area.
The bank supports the Pan-African Payment and Settlement System, which aims to facilitate cross-border transactions in African currencies and reduce dependence on foreign settlement currencies.
It has also worked with the African Union and the AfCFTA Secretariat to establish a $10bn Adjustment Fund intended to help countries and businesses adapt to changes arising from continental trade integration.
Afreximbank’s growing lending portfolio reflects the substantial financing requirements associated with expanding manufacturing, logistics, energy infrastructure and regional commerce.
However, the institution must balance those development objectives against the risks associated with lending across markets exposed to currency volatility, sovereign debt pressures and geopolitical instability.
Denya said the bank would continue prioritising trade facilitation and strategic investments to support economic transformation.
“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,” he said.
Afreximbank’s financial performance at a glance
| Indicator | Sept. 2026 | Comparison |
|---|---|---|
| Net income | $813.5mn | +24% year on year |
| Gross income | $2.7bn | +11% year on year |
| Total assets and contingencies | $54.1bn | +12% from Dec. 2025 |
| Net loans and advances | $36.2bn | +8% from Dec. 2025 |
| Shareholders’ funds | $9.0bn | $8.4bn at Dec. 2025 |
| Return on average equity | 12% | Unchanged year on year |
| Return on average assets | 2.48% | 2.34% a year earlier |
| Non-performing loans | 2.48% | 2.43% at Dec. 2025 |
| Capital adequacy ratio | 22% | 23% at Dec. 2025 |
| Cost-to-income ratio | 20% | 21% a year earlier |
The bank’s nine-month results point to continued expansion in lending and profitability, although rising credit-loss provisions and slightly lower liquidity and capital ratios highlight the financial pressures accompanying that growth.
With total assets and contingencies exceeding $54bn, Afreximbank is seeking to strengthen its position as a major source of trade and development financing for Africa and the Caribbean while maintaining the financial capacity to respond to future economic disruptions.
Source: Afreximbank financial results announcement, Oct. 26, 2026. Financial figures and management statements are based on the bank’s reported nine-month results.
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