Afreximbank Posts $268.9m Profit in Q1, Credits Strong Balance Sheet Management

The African Export-Import Bank, also known as Afreximbank, has announced its financial results for the first quarter of 2026, revealing a profit of $268.9 million. This figure represents a significant increase from the $215.4 million recorded during the same period in 2025. According to the bank's financial reports, its cost-to-income ratio remained stable at 19%, which is below the strategic ceiling of 30%. The profit growth can be attributed to the bank's disciplined balance sheet management and strong deal execution, despite the challenging global economic environment. In the first quarter of 2026, Afreximbank's total credit exposure increased by 2% to reach $42 billion, up from $41 billion at the end of December 2025. The bank's average loans and advances stood at $32 billion, representing an 8% increase compared to the same period in 2025. This growth in lending activities led to a significant increase in interest income. The bank's liquidity position remained strong, with cash and cash equivalents totaling $5.6 billion, which accounts for 14% of its total assets. The non-performing loan ratio was 2.40%, which is broadly in line with the 2.43% recorded at the end of 2025 and below the industry average. Shareholders' funds increased to $8.6 billion at the end of March 2026, up from $8.4 billion at the end of 2025. This growth was supported by internally generated capital and new equity investments received during the quarter. The bank's capital adequacy ratio stood at 23% as of March 2026, which is in line with its long-term capital management targets. In response to the Gulf crisis, Afreximbank launched a $10 billion Gulf Crisis Response Programme in March 2026 to support its member countries. The programme is designed to provide liquidity, stabilize trade and payments, and address supply-side disruptions. Denys Denya, Afreximbank's Senior Executive Vice President, stated: '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. Our swift launch of the $10 billion Gulf Crisis Response Programme further underscores Afreximbank's counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilizing trade flows, easing liquidity pressures, and advancing the industrial and economic transformation of Africa and the Caribbean.'