Afreximbank posts $42.5bn asset base, $412.7m profit in H1 2025

The African Export-Import Bank Group (Afreximbank) has reported a strong first-half performance for 2025, with total assets and contingent items rising to $42.5 billion, representing a 6% increase from $40.1 billion recorded at the end of 2024.

The consolidated financial statements for the six months ended June 30, 2025, released on Tuesday, showed that the Group achieved a net income of $412.7 million, up from $407.7 million in the corresponding period of 2024, despite a challenging global environment marked by inflation, currency volatility and tighter financing conditions.

Gross income grew by 2.04% to $1.59 billion, while net interest income rose 1.17% to $835.9 million, driven by efficient management of funding costs. Fee and commission income from guarantees, letters of credit, and advisory services reached $61.9 million during the period.

The Bank maintained a strong cost-to-income ratio of 19%, well below its strategic ceiling of 30%, despite a 21% increase in operating expenses due to strategic initiatives, staff recruitment and inflationary pressures.

Afreximbank’s loan portfolio stood at $27.7 billion, down from $29 billion at the end of 2024, following early repayments by some sovereign borrowers. The non-performing loan ratio remained low at 2.48%, compared with 2.33% in 2024. Liquidity improved significantly, with cash and cash equivalents increasing to $8.3 billion from $4.6 billion, raising the liquidity ratio to 22%.

Shareholders’ funds grew slightly to $7.3 billion, supported by retained earnings and new equity inflows from the ongoing General Capital Increase II. The bank paid a $350 million dividend for the 2024 financial year following approval at its Annual General Meeting in June 2025.

The period also marked a leadership transition as Dr. George Elombi was confirmed as the Bank’s next President and Chairman of the Board, succeeding Professor Benedict Oramah when his term ends in October 2025. Elombi currently serves as Executive Vice President in charge of Governance, Legal and Corporate Services.

Commenting on the results, Senior Executive Vice President Denys Denya said the performance demonstrated Afreximbank’s resilience and ability to deliver value despite economic headwinds.

“The Group continued to support member states with innovative financial solutions, leveraging on a robust capital base and healthy liquidity position. Our commitment to advancing Africa’s and the Caribbean region’s development through trade, industrialisation and economic integration remains the cornerstone of our success,” he said.

Key highlights of the financial results include:

Total assets and contingencies: $42.5bn

Total assets: $37.7bn

Shareholders’ funds: $7.3bn

Gross income: $1.59bn

Net income: $412.7m

Cost-to-income ratio: 19%

NPL ratio: 2.48%

Liquidity ratio: 22%

Capital adequacy ratio: 24%