Afreximbank reported net income of $813.5 million for the first nine months of 2026, up 24% from $654.3 million in the same period last year, in results released on Monday, 26 October. The pan-African trade finance bank reported stronger revenue and lending alongside increased provisions for possible credit losses.
Gross income reached $2.7 billion between January and September, an 11% year-on-year increase. Interest income accounted for approximately $2.4 billion, while gross fees and commissions from activities including guarantees and letters of credit rose to $136.9 million, from $117.2 million in the equivalent nine months of 2025.
Lending expands from the year-end balance
Net loans and advances stood at $36.2 billion at 30 September 2026, up 8% from $33.5 billion at 31 December 2025. Total assets and contingencies reached $54.1 billion, compared with $48.5 billion at the end of 2025. Both figures compare balance-sheet stocks on different dates and should not be confused with the year-on-year change in earnings.
The cost-to-income ratio improved to 20%, from 21% over the first nine months of 2025. At the same time, expected-credit-loss provisions increased to $537.6 million, compared with $481.3 million in the corresponding period a year earlier.
Capital remains strong, though buffers ease
The non-performing loan ratio edged up to 2.48% at the end of September, from 2.43% at December 2025. The capital adequacy ratio moderated to 22%, from 23% at the previous year-end. These changes place the rise in profit alongside a higher impairment charge and a slightly smaller capital buffer.
Afreximbank also highlighted a $1.5 billion dual-tranche bond issuance completed in July 2026, comprising two $750 million notes with maturities of five-and-a-half and ten years. The completed fundraising diversified the institution’s sources of funding as it continues to support trade and project financing in member countries.