African Export-Import Bank (Afreximbank) reported a net income of $813.5 million for the 9 months ended September 30, 2026.
This represents a 24% improve from $654.3 million recorded within the corresponding interval of 2025, supported by greater gross and net interest income.
Gross income elevated by 11% to $2.7 billion from $2.4 billion within the corresponding interval of 2025, whereas net interest income rose by 17.45% to $1.49 billion from $1.27 billion.
The evaluate of the report exhibits that the expansion in profitability was pushed by elevated lending actions, greater interest income and improved value effectivity, with administration reporting that the efficiency exceeded its current-year expectations.
Key Highlights
- Gross income: $2.7 billion (Up 11% YoY from $2.4 billion).
- Interest income: $2.42 billion (Up 9.46% YoY from $2.21 billion).
- Net interest income: $1.49 billion (Up 17.45% YoY from $1.27 billion).
- Net charges and fee income: $133.52 million (Up 16.07% YoY from $115.04 million).
- Net income: $813.46 million (Up 24.33% YoY from $654.26 million).
- Operating bills: $335.58 million (Up 9.42% YoY from $306.71 million).
- Credit loss bills: $537.56 million (Up 11.70% YoY from $481.25 million).
- Total belongings: $45.94 billion (Up 8.63% from $42.29 billion as of December 2025).
- Net loans and advances: $36.18 billion (Up 7.98% from $33.50 billion as of December 2025).
- Cash and money equivalents:
- Shareholders’ funds: $9.03 billion (Up 7.53% from $8.40 billion as of December 2025).
- Cost-to-income ratio: 20% (Improved from 21% in 9M 2025).
- Return on common belongings: 2.48% (Compared with 2.34% within the earlier press launch).
- Non-performing loans ratio: 2.48% (Compared with 2.43% at December 2025).
- Capital adequacy ratio: 22% (Compared with 23% at December 2025).
Management commentary
Commenting on the group’s nine-month efficiency, Afreximbank’s Senior Executive Vice President, Denys Denya, highlighted the financial institution’s stronger profitability, increasing lending portfolio and capital place.
- “This efficiency underscores Afreximbank’s potential to ship robust and sustainable efficiency whereas persevering with to fulfil its improvement mandate throughout 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,” he said.
Driving the numbers
Afreximbank’s nine-month earnings development was primarily pushed by elevated lending actions, greater interest income and improved working effectivity.
- Interest income rose by 9.46% to $2.42 billion from $2.21 billion within the corresponding interval of 2025, supported by a rise in common mortgage balances from $28.9 billion to $34.8 billion.
According to the financial institution’s working evaluate, the growth mirrored sustained demand for commerce and venture financing throughout its member nations.
Meanwhile, interest bills elevated at a slower price, rising by 2.27% to $981.34 million from $959.55 million.
- This helped elevate net interest income by 17.45% to $1.49 billion from $1.27 billion, making it a significant contributor to the advance in profitability.
- Beyond interest income, net charges and fee income elevated by 16.07% to $133.52 million from $115.04 million.
The financial institution attributed the advance in fee-generating actions to its unfunded companies, together with ensures, letters of credit score, and advisory companies.
- Gross charges and fee income from these actions rose to $136.92 million from $117.25 million, reflecting stronger contributions from the financial institution’s non-lending monetary companies.
Net buying and selling income additionally contributed $38.94 million in the course of the interval, in contrast with no quantity reported beneath that line in 2025.
The prices
On the price facet, working bills elevated by 9.42% to $335.58 million from $306.71 million, reflecting greater personnel prices and depreciation costs.
Despite the general improve in bills, the financial institution’s cost-to-income ratio improved to twenty% from 21% within the corresponding interval of 2025, remaining under its strategic ceiling of 30%.
- This means that income development outpaced the rise in working bills, supporting stronger profitability.
Credit impairment costs, nevertheless, remained a major value centre.
- Expected credit score loss bills elevated by 11.70% to $537.56 million from $481.25 million, whereas the non-performing loans ratio edged as much as 2.48% from 2.43% on the finish of December 2025.
- The financial institution additionally recorded a international trade adjustment lack of $41.69 million, in contrast with a achieve of $22.77 million within the corresponding interval of 2025.
Nevertheless, stronger net interest income, elevated charge income and improved working effectivity supported a 24.33% improve in net income to $813.46 million.
The stability sheet
On the stability sheet, whole belongings elevated by $3.65 billion to $45.94 billion as of September 2026, in contrast with $42.29 billion on the finish of December 2025.
The growth was largely pushed by elevated loans and advances, funding securities, and prepayments and receivables.
- Net loans and advances elevated to $36.18 billion from $33.50 billion, accounting for about 79% of whole belongings.
- Investment securities measured at amortised value additionally elevated to $1.40 billion from $481.56 million, whereas prepayments and receivables rose to $1.21 billion from $378.84 million.
- Debt securities in situation additionally elevated to $4.38 billion from $3.42 billion, reflecting the financial institution’s elevated funding actions.
During the interval, Afreximbank accomplished a $1.5 billion dual-tranche bond issuance in July 2026, comprising $750 million in 5.5-year notes and $750 million in 10-year notes.
According to administration, the transaction was two occasions oversubscribed, strengthening the financial institution’s entry to worldwide debt markets and supporting diversification of its funding base.
Shareholders’ funds additionally elevated to $9.03 billion from $8.40 billion, supported by internally generated earnings and new fairness contributions.
However, the growth in lending actions was accompanied by weaker working money circulate.
- Net money utilized in working actions stood at $878.58 million, in contrast with a constructive money influx of $2.11 billion within the corresponding interval of 2025.
This was largely pushed by $3.12 billion in money absorbed by loans and advances and an $834.78 million improve in prepayments and receivables.
Overall, the group recorded a net money outflow of $1.24 billion, in contrast with a net money influx of $2.95 billion within the corresponding interval of 2025, bringing money and money equivalents to $4.71 billion.
The decline in money holdings was additionally mirrored within the financial institution’s liquidity place, with liquid belongings accounting for 13% of whole belongings, in contrast with 15% on the finish of 2025.
But this remained above the financial institution’s minimal strategic goal of 10%.
Commenting on the broader working surroundings, Denya emphasised Afreximbank’s continued position in financing commerce and supporting financial improvement amid geopolitical uncertainties. He said:
- “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.”
This dedication was mirrored within the financial institution’s $10 billion Gulf Crisis Response Programme, launched in March 2026 to offer liquidity assist and facilitate commerce and fee flows amid disruptions to world provide chains.
The financial institution’s high-impact investments additionally elevated by 23% to $1.6 billion from $1.3 billion on the finish of 2025.
Overall, Afreximbank’s nine-month outcomes mirror stronger earnings pushed by lending growth and improved value effectivity, though greater impairment costs, destructive working money circulate and declining money balances stay vital concerns.
