Source: APO – Report:
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African Export-Import Bank Group (Afreximbank/Group) (www.Afreximbank.com) has released its consolidated financial statements for the six months ended 30 June 2025 (H1’2025).
Amid heightened geopolitical tensions, persistent inflationary pressures, currency volatility, and tighter global financing conditions, the Afreximbank Group delivered, once again, satisfactory results for the first half of the year (H1’2025). This performance, which surpassed that of the 2024 comparative period, reflected higher net income, a robust liquidity position, and strengthened capital buffers, positioning the Group to better fulfil its mandate across its member states in Africa and the Caribbean Community.
Gross income grew by 2.04% over the comparative period, reaching US$1.6 billion for the H1’2025. Net interest income stood at US$835.9 million, representing a 1.17% increase over the prior period. This modest growth was achieved despite the decline in global benchmark rates, largely reflecting the Group’s efficient management of funding costs. Gross fee and commission income arising from unfunded activities, including issuance of guarantees, letters of credit (contingent liabilities) and provision of advisory services amounted to US$61.9 million.
Notwithstanding the 21% increase in operating expenses, the Group maintained a very favourable cost-to-income ratio of 19%, broadly in line with the historical levels, and well below the strategic ceiling of 30%. The increase in expenses was mainly driven by the implementation of strategic initiatives, and the recruitment of additional staff to support the Group’s growing activities and inflationary pressures,
Afreximbank’s on-balance sheet and contingent items closed H1’2025 at US$42.5 billion, representing a growth of 6.0% over the position as at 31 December 2025 (FY’2024). Loans and advances (the portfolio) stood at US$27.7 billion (FY’2024: US$29.0 billion). This reported decrease in the loans and advances portfolio was on account of early repayments by some sovereign borrowers, who benefited from stronger commodity prices and improved foreign currency positions. With non-performing loans (NPLs) at 2.48% for H1’2025 (FY’2024: 2.33%), the quality of the portfolio remained sound and well within prudent levels. The Bank’s liquidity ratio improved significantly to close the period at 22% (FY’2024:13%) as cash and cash equivalents held amounted to US$8.3 billion (FY’2024:US$4.6 billion).
Shareholders’ funds increased to US$7.3 billion (FY’2024:US$7.2billion), driven by internally generated profits of US$412.7 million and fresh equity inflows under the ongoing General Capital Increase II. A total dividend of US$350 million in respect of FY’2024 was appropriated following shareholders’ approval at the last AGM held in June 2025.
Afreximbank is also delighted to welcome Dr. George Elombi, who was unanimously approved by shareholders at our Annual General Meeting in June 2025 as the fourth President and Chairman of the Board of Directors succeeding Professor Benedict Oramah who completes his second term in office in October 2025. This appointment comes after Dr. Elombi’s distinguished career with the Bank, spanning nearly three decades, where he currently serves as Executive Vice President in charge of Governance, Legal, and Corporate Services.
Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:
“Afreximbank Group reported satisfactory performance in the first half of 2025, demonstrating agility and resilience despite operating in a challenging environment. The Group continued to support member states with innovative financial solutions, leveraging on a robust capital base, access to capital markets as reflected in the healthy liquidity position and Management’s excellent knowledge of the African and Caribbean markets. Management’s unwavering commitment to its developmental mandate, advancing Africa’s and the Caribbean region’s development through trade, industrialisation and economic integration, remain the cornerstone of the Group’s success.
The Group’s fundamentals remain strong, and management continues to focused on delivering long-term value to all stakeholders, while safeguarding Africa’s financial sovereignty.”
Highlights of the results for the Group are shown below:
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Financial Performance Metrics
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H1’2025
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H1’2024
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Gross Income (US$ million)
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1 588.2
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1 556.5
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Net Income (US$ million)
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412.7
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407.7
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Return on average equity (ROAE)
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11%
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13%
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Return on average assets (ROAA)
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2.22%
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2.52%
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Cost-to-income ratio
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19%
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17%
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Financial Position Metrics
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H1’2025
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FY’2024
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Total on balance sheet assets and contingencies (US$ billion)
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42.5
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40.1
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Total Assets (US$ billion)
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37.7
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35.3
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Total Liabilities (US$ billion)
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30.4
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28.1
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Shareholders’ Funds (US$ billion)
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7.3
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7.2
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Net asset value per share
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US$70,140
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US$69,695
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Non-performing loans ratio (NPL)
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2.48%
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2.33%
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Cash/Total assets
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22%
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13%
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Capital Adequacy ratio (Basel II)
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24%
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24%
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– on behalf of Afreximbank.
Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
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About Afreximbank:
African Export-Import Bank (the “Bank”) is a multilateral trade finance institution, established in October 1993. It commenced operations in September 1994. The Bank is headquartered in Cairo, Egypt. The Bank’s mandate is to promote, finance and facilitate intra-and extra-African trade while operating commercially.
The Bank has 100 percent controlling interests in FEDA Holdings, FEDA Investments Management and FEDA Capital (collectively known as FEDA entities) which were established in 2021. FEDA was initiated by Afreximbank and established by a Treaty amongst Africa participating states to facilitate foreign direct investment flows into Africa’s trade and tradable sectors and to fill the equity funding gap in the continent. The Bank incorporated Afreximbank Insurance Management Company (AfrexInsure) in 2021. The objective of this vehicle is to help Africa to retain, on the continent, a sizeable proportion of trade-related written insurance premiums. Additionally, the Bank has also incorporated two entities: African Medical Centre of Excellence Limited (AMCE), whose principal activities include providing world-class medical and health facilities, and African Quality Assurance Centre Limited (AQAC), a company established to ensure that products made in Africa meet applicable international standards and technical regulations. AQAC offers testing, inspection, and certification services, including the provision of conformity assessment training. In addition, the Bank holds controlling interest in AFCFTA Adjustment Fund Corporation Limited (AFCFTA), and CANEX Creations Incorporated (CANEX).
The Bank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-).
For more information, visit: www.Afreximbank.com
FORWARD-LOOKING STATEMENTS:
African Export-Import Bank Group (Afreximbank/Group) makes written and/or oral forward-looking statements, as shown in this release and other communications, from time to time. Likewise, officers of the Bank may make forward-looking statements either in writing or during verbal conversations with investors, analysts, the media, and other members of the investment community. Statements regarding the Bank’s strategies, objectives, priorities, and anticipated financial performance for the period constitute forward-looking statements. They are often described with words like “should”, “would”, “may”, “could”, “expect”, “anticipate”, “estimate”, “project”, “intend”, and “believe”.
By their very nature, these statements require the Bank to make assumptions subject to risks and uncertainties, especially uncertainties related to the financial, economic, regulatory, and social environment within which the Bank operates. Some of these risks are beyond the control of the Bank and may result in materially different results from the expectations inferred from the forward-looking statements. Risk factors that could cause such differences include regulatory pronouncements, credit, market (including equity, commodity, foreign exchange, and interest rate), liquidity, operational, reputational, insurance, strategic, legal, environmental, and other known and unknown risks. As a result, when making decisions with respect to the Bank, we recommend that readers apply further assessment and should not unduly rely on the Bank’s forward-looking statements.
Any forward-looking statement contained in this presentation represents the views of management only as of the date hereof. They are presented to assist the Bank’s investors and analysts to understand the Bank’s financial position, strategies, objectives, priorities, and anticipated financial performance in relation to the current period, and, as such, may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statement, whether written or verbal, that may be made from time to time by it or on its behalf, except as required under applicable relevant regulatory provisions or requirements.
