Afreximbank secures $1.5bn bond as H1 profit jumps 30%

The African Export-Import Bank (Afreximbank) has reported a 30 percent increase in net income to $534.7 million for the six months ended June 30, 2026, as stronger lending activity and higher interest and fee income lifted earnings despite persistent inflationary pressures.

The pan-African trade finance institution’s net income rose from $412.7 million in the corresponding period of 2025, while gross income increased to $1.8 billion from $1.6 billion.

The results underline the resilience of Afreximbank’s business model as the institution continues to finance trade, industrialisation and investment across Africa and the Caribbean amid a complex global economic environment.

Net interest income rose 22 percent to $1 billion, compared with $840 million in H1 2025, while fee and commission income increased 15 percent to $71.1 million from $61.9 million.

The rise in non-interest income was supported by higher fees from guarantees, letters of credit and advisory services.

Afreximbank’s total assets and contingencies increased 7.8 percent to $52.3 billion, from $48.5 billion at the end of December 2025, driven primarily by an expansion in lending.

Net loans and advances grew 5.7 percent to $35.4 billion, compared with $33.5 billion at the end of 2025.

Despite the expansion in its loan book, the bank reported an improvement in asset quality. Its non-performing loan ratio fell to 2.20 percent, from 2.43 percent at year-end 2025.

Afreximbank also maintained a sound liquidity position, with liquid assets representing 13 percent of total assets, within its strategic target range of 10 to 15 percent.

The stronger earnings translated into improved profitability metrics.

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…