African Export-Import Bank (“Afreximbank” or the “Bank”) and its subsidiaries (“the Group”) have announced a strong performance for the first quarter ended 31 March 2026, reporting a 25% year-on-year increase in net income to US$268.9 million.
The results reflect the Group’s continued resilience, disciplined balance sheet management and strong execution despite a challenging global operating environment marked by heightened geopolitical risks, tight financial conditions and declining benchmark rates.
Afreximbank’s total credit exposure grew by 2% during the quarter to US$42 billion, compared with US$41 billion as at 31 December 2025, underscoring the Bank’s continued role in financing trade and trade-enabling infrastructure across Africa and the Caribbean. Average loans and advances rose 8% year-on-year to US$32 billion, supporting a 14% increase in total interest income to US$813.6 million.
Net interest income increased by 24% to US$510.0 million, up from US$411.2 million in Q1 2025, while gross income rose to US$874.1 million. The Group’s cost-to-income ratio remained well contained at 19%, below its strategic ceiling of 30%.
The Group maintained a strong liquidity and capital position, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets. Shareholders’ funds increased to US$8.6 billion from US$8.4 billion at the end of FY2025, supported by internally generated capital and new equity investments received during the quarter. The Group’s capital adequacy ratio remained stable at 23%.
Asset quality remained robust, with the non-performing loan ratio standing at 2.40%, broadly in line with 2.43% at FY2025 and below the industry average.
During the quarter, Afreximbank also reinforced its counter-cyclical role by launching a US$10 billion Gulf Crisis Response Programme in March 2026. The programme is designed to help member countries manage adverse spillover effects from the Gulf crisis by supporting liquidity, stabilising trade and payments, and addressing supply-side disruptions in critical sectors including energy, tourism and aviation, fertilisers, food and essential imports.
The Bank also continued to support trade flows, industrial capacity and economic resilience across Africa and CARICOM. Regional integration received a further boost following South Africa’s ratification of the Bank’s Establishment Agreement in February 2026, giving Afreximbank full continental coverage.
Commenting on the results, Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, said:
“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate.”
He added that the launch of the US$10 billion Gulf Crisis Response Programme underscored Afreximbank’s counter-cyclical role in supporting member countries during periods of disruption, while reaffirming the Bank’s focus on stabilising trade flows, easing liquidity pressures and advancing industrial and economic transformation across Africa and the Caribbean.
Financial Highlights
For Q1 2026, Afreximbank Group reported:
| Metric | Q1 2026 | Q1 2025 |
|---|---|---|
| Gross Income | US$874.1 million | US$784.9 million |
| Net Income | US$268.9 million | US$215.4 million |
| Return on Average Equity | 13% | 12% |
| Return on Average Assets | 2.62% | 2.38% |
| Cost-to-Income Ratio | 19% | 16% |
As at 31 March 2026, total assets stood at US$41.7 billion, total liabilities at US$33.0 billion and shareholders’ funds at US$8.6 billion.
