African Export-Import Bank has reported a strong first-quarter performance for 2026, with net income rising 25% year on year as the Group expanded lending, preserved asset quality and maintained strong liquidity and capital buffers.
In results announced in Cairo on 22 May 2026, Afreximbank and its subsidiaries said profit for the three months ended 31 March 2026 increased to US$268.9 million, compared with US$215.4 million in the first quarter of 2025. Gross income rose to US$874.1 million from US$784.9 million over the same period.
The Bank’s performance was driven largely by higher interest income and continued growth in lending activity. Total interest income increased 14% year on year to US$813.6 million, while net interest income rose 24% to US$510.0 million, compared with US$411.2 million in the first quarter of 2025. Average loans and advances stood at US$32 billion, up 8% from the same period last year.
Afreximbank said total credit exposure grew 2% during the quarter to US$42 billion, from US$41 billion at the end of December 2025. The Group said this reflected its continued role as a development finance institution supporting trade and trade-enabling infrastructure across Africa and the Caribbean.
The results also show continued balance-sheet discipline. Cash and cash equivalents stood at US$5.6 billion, representing 14% of total assets, broadly consistent with the 2025 year-end position and above the Bank’s strategic minimum. Total assets were US$41.7 billion at the end of March 2026, compared with US$42.3 billion at the end of 2025, while total liabilities declined to US$33.0 billion from US$33.9 billion.
Asset quality remained stable. The Group reported a non-performing loan ratio of 2.40%, broadly in line with 2.43% at the end of 2025. Afreximbank said the ratio remained below the industry average. The cost-to-income ratio was contained at 19%, within the Group’s strategic ceiling of 30%, although higher than the 16% recorded in the first quarter of 2025.
Capital also strengthened. Shareholders’ funds increased to US$8.6 billion as of 31 March 2026, from US$8.4 billion at the end of 2025. The increase was supported by internally generated capital of US$268.9 million and new equity investments received during the quarter. The Group’s capital adequacy ratio remained at 23%, in line with its long-term capital-management targets.
The quarter also underscored Afreximbank’s counter-cyclical mandate. In March 2026, the Bank launched a US$10 billion Gulf Crisis Response Programme to help member countries manage spillover effects from the Gulf crisis. The facility is intended to support liquidity, stabilise trade and payments, and address supply-side disruptions in energy, tourism, aviation, fertilisers, food and other critical imports.
Afreximbank said it also continued to provide targeted financing and advisory support to strengthen trade flows, industrial capacity and economic resilience across Africa and CARICOM. The Bank highlighted South Africa’s ratification of its Establishment Agreement in February 2026 as a major integration milestone, giving Afreximbank full continental coverage.
Denys Denya, Afreximbank’s Senior Executive Vice President, said the Group’s first-quarter results reflected disciplined balance-sheet management, sound asset quality and strong capital and liquidity buffers in a difficult global environment. He said the growth in net interest income and profitability demonstrated the strength of the Bank’s operating model and the continued relevance of its mandate.
For African economies, the results matter for three reasons. First, Afreximbank’s loan-book growth shows sustained demand for trade finance at a time when global borrowing conditions remain tight. Second, the Bank’s liquidity and capital position will shape its ability to respond to shocks through facilities such as the Gulf Crisis Response Programme. Third, the expansion of its shareholder base and continental membership strengthens its role as one of Africa’s central development-finance institutions.
The key issue to watch is execution. A stronger quarterly profit position gives Afreximbank additional internal capital, but the Bank will still need to balance growth, risk management and the financing needs of member countries facing currency, trade and infrastructure pressures.
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