The African Export-Import Bank (Afreximbank) and its subsidiaries (the Group) delivered a satisfactory financial performance for the nine months ended 30 September 2026, demonstrating solid growth, sound asset quality and continued support for trade and economic development across Africa and the Caribbean Community (CARICOM).

Net income rose 24% to USD 813.5 million, compared with USD 654.3 million in the corresponding period of 2025, driven by growth in lending activity, higher interest income and disciplined cost management, despite a challenging global operating environment.

The Group's total assets and contingent liabilities rose 12% to USD 54.1 billion, from USD 48.5 billion in financial year 2025. This growth was underpinned by the expansion of the bank's loan book: net loans and advances rose 8% to USD 36.2 billion, compared with USD 33.5 billion at the end of 2025.

Gross income rose to USD 2.7 billion in the first nine months of 2026, an increase of 11% on the previous period, supported by continued balance-sheet growth and strong earnings generation. The performance was mainly attributable to a 9.1% rise in interest income to USD 2.4 billion, from USD 2.2 billion in the first nine months of 2025, supported by growth in average loan balances from USD 28.9 billion in the first nine months of 2025 to USD 34.8 billion in the first nine months of 2026, reflecting sustained demand for trade and project finance in the bank's member countries. Net interest income also strengthened by 15% to USD 1.5 billion.

Fee and commission income from unfunded activities, including guarantees, letters of credit and advisory services, rose to USD 136.9 million, from USD 117.2 million in the same period a year earlier.

The Group maintained strong operating efficiency, with the cost-to-income ratio improving to 20% from 21% for the nine months ended September 2025, comfortably below the bank's strategic ceiling of 30%. Return on average equity (ROAE) remained strong at 12%, while return on average assets (ROAA) improved to 2.48%, from 2.34% in the first nine months of 2025.

Asset quality remained sound, with the non-performing loan (NPL) ratio at 2.48%, compared with 2.43% at 31 December 2025. Expected credit loss provisions stood at USD 537.6 million, against USD 481.3 million in the corresponding period of 2025.

The Group's liquidity position remained strong, with total liquid assets of USD 6.1 billion, representing 13% of total assets, compared with 15% at the end of 2025. The capital adequacy ratio stood at 22%, compared with 23% at the end of 2025, confirming the strength of the bank's balance sheet and its alignment with its long-term capital management objectives.

Shareholders' funds rose to USD 9.0 billion, from USD 8.4 billion at the end of 2025, supported by internally generated earnings and new capital contributions of USD 195.2 million under the bank's General Capital Increase programme.

Commenting on the results, Mr. Denys Denya, Senior Executive Vice President of Afreximbank, said:

“This performance confirms Afreximbank's ability to deliver strong and sustainable results while continuing to fulfil its development mandate across Africa and the Caribbean. The expansion of our loan book, our solid profitability and our strong capital position demonstrate the effectiveness of our strategy and the growing relevance of our interventions in our target markets. Amid continued global economic and geopolitical uncertainty, Afreximbank remains committed to providing the financing, trade facilitation and strategic investment needed to strengthen regional value chains, support industrialisation and accelerate the continent's economic transformation.”

During the period, Afreximbank strengthened its access to international debt capital markets, successfully completing a USD 1.5 billion dual-tranche bond issue in July 2026. The transaction comprised USD 750 million of 5.5-year notes and USD 750 million of 10-year notes, and was about two times oversubscribed. As a result, debt securities in issue rose to USD 4.4 billion, from USD 3.4 billion at the end of 2025, further diversifying the Group's funding base.

The bank also continued to play its countercyclical role in the face of geopolitical and economic disruption. Its USD 10 billion Gulf Crisis Response Programme was established to provide vital liquidity support, facilitate trade and payment flows, and help member countries keep securing essential imports, including energy products, fertilisers, food and other strategic goods.

In line with its commitment to transformative development, the Group's high-impact investments also rose 23% to USD 1.6 billion, from USD 1.3 billion at the end of 2025, supporting strategic development projects that promote industrialisation, trade competitiveness and economic resilience.