Restored investment-grade credit ratings and aggressive loan expansion propelled African Export-Import Bank’s (Afreximbank) net income up 24.33% to $813.46 million for the nine months ended September 30, 2026.
According to the group’s unaudited financial statements released on Monday, gross income rose 11% to $2.70 billion, while net interest income jumped 17.45% to $1.49 billion.
S&P Global Ratings’ assignment of a ‘BBB+’ investment-grade rating in June 2026 reinforced global market confidence, enabling the lender to execute a $1.5 billion dual-tranche bond issuance in July to fund balance sheet expansion.
Average interest-bearing loan balances swelled to $34.8 billion from $28.9 billion, lifting total net loans and advances 7.98% to $36.18 billion compared to year-end 2025.
Total assets and contingencies expanded 12% to $54.1 billion, while shareholders’ funds grew 7.53% to $9.03 billion, yielding an annualized return on average equity of 12%.
However, rapid portfolio expansion pushed credit loss provisions up 11.70% to $537.56 million, alongside a negative operating cash flow of $878.58 million amid high regional inflation.
Operational efficiency remained tight as the bank’s cost-to-income ratio improved to 20% from 21%, comfortably below its long-term strategic policy ceiling of 30%.
Asset quality metrics held steady despite sovereign headwinds, with the non-performing loans ratio edging slightly to 2.48% from 2.43% and capital adequacy standing robust at 22%.
The capital-raising success under its renewed credit standing reinforces Afreximbank’s mandate to bridge trade financing gaps across AfCFTA member states and Caribbean diaspora economies.
