The African Export-Import Bank (Afreximbank) released its consolidated financial statements for the first half of 2025, posting robust performance despite operating in an environment marked by geopolitical tensions, inflationary pressures, exchange rate volatility, and tight global financing conditions.
The results highlight the bank’s resilience and its ability to continue delivering on its mandate in Africa and the Caribbean.
Strong income and efficiency metrics
Gross income for H1 2025 reached $1.6 billion, a 2.04% increase compared to the same period last year. Net interest income rose modestly by 1.17% to $835.9 million, reflecting prudent cost management despite lower global benchmark rates. Fee and commission income—largely from guarantees, letters of credit, and advisory services—totaled $61.9 million, underlining the growing relevance of non-funded activities.
Operating expenses rose 21% to support strategic initiatives and staff expansion. Nevertheless, the bank maintained an enviable cost-to-income ratio of 19%—well below its 30% ceiling and consistent with historical levels.
Balance sheet growth and liquidity strength
The group’s balance sheet and contingent items increased to $42.5 billion, up 6% from FY 2024. Total assets rose to $37.7 billion, while liabilities stood at $30.4 billion. Loans and advances closed at $27.7 billion, a slight decline from FY 2024 due to early sovereign debt repayments, supported by strong commodity prices and more robust foreign reserves.
Asset quality remained solid, with non-performing loans at 2.48%, comfortably within prudent thresholds. Liquidity improved significantly, with the ratio climbing from 13% in FY 2024 to 22%, supported by $8.3 billion in cash and equivalents.
Capital position and shareholder returns
Shareholders’ equity increased to $7.3 billion from $7.2 billion in FY 2024, driven by retained earnings of $412.7 million and new capital injections under General Capital Increase II. A dividend of $350 million was paid for FY 2024, reflecting strong shareholder returns while safeguarding balance sheet strength.
Leadership transition
At its Annual General Meeting in June 2025, Afreximbank’s shareholders unanimously approved the appointment of George Elombi as the bank’s fourth President and Chairman of the Board, effective October 2025. Elombi, who has served the institution for nearly three decades and currently oversees Governance, Legal, and Corporate Services, will succeed Benedict Oramah.
Commitment to mandate
Senior Executive Vice President Denys Denya stressed that the bank’s performance illustrates agility and resilience in a challenging global context. He noted that Afreximbank continues to leverage its strong capital base and market access to provide innovative financial solutions that promote trade, industrialization, and economic integration in Africa and the Caribbean.
The bank’s fundamentals remain solid, with a capital adequacy ratio of 24% and an average return on equity of 11%. While external conditions remain uncertain, Afreximbank’s strong liquidity, capital buffers, and diversified income base position it to deliver long-term value while reinforcing Africa’s financial sovereignty.
Source: Further Africa
