Afreximbank's profit after tax surged 30% to $535 million in the first half of 2026, propelled by a 15% expansion in its loan portfolio, according to the bank's financial statement released on Monday.
Strong Lending Growth Drives Earnings
The pan-African trade bank attributed the profit jump to increased lending activities, which grew by 15% during the period. Net interest income rose 22% to $1.2 billion, reflecting the bank's ability to capitalise on higher-yielding assets.
Balance Sheet Strengthens
Total assets climbed to $40 billion, up from $35 billion a year earlier, supported by the loan growth. The bank's capital adequacy ratio remained robust at 24.5%, well above regulatory requirements.
Outlook and Management Comments
"Our performance reflects the resilience of our business model and the growing demand for trade finance across Africa," said Professor Benedict Oramah, President and Chairman of the Board of Directors, in a statement. "We remain committed to supporting African trade and integration."
The bank's return on equity improved to 14.2% from 12.1% in the prior year. Non-performing loans ratio eased to 3.2% from 3.8%, indicating improved asset quality.
Afreximbank's operating income grew 19% to $1.8 billion, driven by higher fee and commission income, which rose 12%. The bank also benefited from a 9% increase in net trading income.
Looking ahead, the bank expects to maintain its growth trajectory, focusing on expanding its trade finance and advisory services. Management reiterated its full-year guidance of mid-teens growth in profit after tax, supported by ongoing investments in digital infrastructure and intra-African trade facilitation.
