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Cairo, Egypt | THE INDEPENDENT | Africa’s multilateral lender, African Export-Import Bank, has reported stronger first-quarter results for 2026, supported by growth in lending activity, higher interest income and stable asset quality, despite continued global economic uncertainty.
The bank said profit for the three months to 31 March 2026 rose to US$268.9 million, compared with US$215.4 million in the same period last year.
The improvement was driven by increased financing activity across its markets and stronger income from its loan portfolio, even as global benchmark interest rates eased.
Total credit exposure rose by 2% to US$42 billion, up from US$41 billion at the end of December 2025, reflecting continued expansion in trade and infrastructure financing across Africa and the Caribbean.
Average loans and advances increased by 8% year-on-year to US$32 billion, supporting growth in interest income.
The bank said its liquidity position remained strong, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets. This was unchanged from the end of 2025 and above internal minimum requirements.
Asset quality remained stable, with the non-performing loan ratio at 2.40%, broadly in line with 2.43% at the end of 2025 and below industry averages.
Shareholders’ funds rose to US$8.6 billion from US$8.4 billion, supported by internally generated capital of US$268.9 million and additional equity contributions during the quarter.
Total interest income increased by 14% year-on-year to US$813.6 million, while net interest income rose by 24% to US$510.0 million. The cost-to-income ratio remained at 19%, below the bank’s internal ceiling of 30%.
The bank maintained a capital adequacy ratio of 23%, in line with its long-term capital targets. During the quarter, Afreximbank launched a US$10 billion Gulf Crisis Response Programme aimed at supporting member countries affected by economic disruptions linked to the Gulf crisis.
The facility is designed to provide liquidity support and help stabilise trade, payments and supply chains, particularly in energy, aviation, tourism, food and fertiliser imports.
The bank also said it continued to support trade flows and industrial development across Africa and the Caribbean, with regional integration boosted after South Africa ratified its Establishment Agreement in February 2026, giving the institution full continental membership.
Denys Denya, the senior executive vice president at Afreximbank, said the performance reflected resilience in a difficult global environment.
He said the bank would continue focusing on stabilising trade flows, supporting liquidity and advancing industrialisation across its member states.
