AFRICA · COMPANY RESULTS
Key Facts
- —What is happening Afreximbank, a Cairo based bank that finances trade across Africa and the Caribbean, said on Monday, 26 October 2026 that net profit for the nine months to 30 September rose 24% to US$813.5 million.
- —Why it matters The bank grew lending and profit while keeping costs low, yet its bad loan ratio and capital buffer moved the wrong way, so the gain comes with small warning signs.
- —The numbers Net profit US$813.5 million against US$654.3 million a year earlier, assets and contingencies US$54.1 billion, net loans US$36.2 billion, shareholders’ funds US$9.0 billion.
- —Who is who Afreximbank is a multilateral lender owned by member states, with its headquarters in Cairo, and Denys Denya, a senior executive vice president, gave the official comment on the results.
- —What to watch Whether the bad loan ratio, now 2.48%, and the capital adequacy ratio, now 22%, keep drifting in the same direction when full year results come out.
- —What it means for you US investors meet Afreximbank mainly through its bonds and credit ratings, and this result comes from a profitable lender rated investment grade by US credit rating agencies.
Afreximbank, the African trade bank, earned US$813.5 million in nine months, 24% more than a year earlier. Bad loans and capital ratios moved slightly the wrong way.
Afreximbank net profit rose 24% to US$813.5 million in the first nine months of 2026. The Cairo based lender, which finances trade across Africa and the Caribbean, announced the result on Monday, 26 October 2026.
The figure compares with US$654.3 million in the same period of 2025, and total assets and contingencies reached US$54.1 billion. It is owned by member states, not listed on a stock market, so its ratings and bonds matter most to outside investors.
What Afreximbank Reported
The bank said lending growth, higher interest income and cost control lifted profit, in a statement from APO Group, a press service. Financial Afrik, a French language business outlet, and MyJoyOnline, a Ghanaian news site, carried the same figures.
Net loans and advances rose 8% to US$36.2 billion from US$33.5 billion at the end of 2025. Average loan balances climbed from US$28.9 billion to US$34.8 billion, which the bank says underpinned the higher interest income.
Gross income rose 11% to US$2.7 billion, and interest income rose 9.1% to US$2.4 billion. Net interest income, the gap between what the bank earns on loans and pays on its funding, rose 15% to US$1.5 billion.
Fees and commissions on guarantees and similar unfunded business rose to US$136.9 million from US$117.2 million. The cost to income ratio, the share of income spent on running costs, improved to 20% from 21%.
Afreximbank Net Profit by Quarter
First half net income was US$534.7 million, up 30% from US$412.7 million, the bank said on Monday, 24 August 2026. Subtracting that from the nine month total leaves about US$278.8 million for the third quarter, against about US$241.6 million a year earlier.
That implies third quarter growth of about 15%, roughly half the 30% pace of the first half. This is arithmetic on published figures, not a number the bank has issued, so treat it as a rough guide.
Return on average assets improved to 2.48% from 2.34%, while return on average shareholders’ equity was 12%. Both measures show how much profit the bank makes from its balance sheet and from the owners’ money.
Where the Strains Show
The non performing loan ratio, the share of loans not being repaid, rose to 2.48% from 2.43% at the end of 2025. It had stood at 2.20% at the end of June, so the ratio rose by 0.28 percentage points in one quarter.
Provisions for expected credit losses, money set aside for loans that may go bad, rose to US$537.6 million from US$481.3 million. That is an increase of about 12% over the same period of 2025, the bank’s statement shows.
The capital adequacy ratio, which compares capital with risks under the Basel II rules, slipped to 22% from 23%. Liquid assets, cash the bank can reach quickly, were US$6.1 billion, or 13% of total assets.
Shareholders’ funds rose to US$9.0 billion from US$8.4 billion, including US$195.2 million of new equity from a General Capital Increase. That programme asks member states and other shareholders to pay in more money so the bank can lend more.
In Plain English
- Afreximbank: the African Export-Import Bank, a lender set up by African and Caribbean governments to finance trade, based in Cairo and led by president George Elombi.
- Net income: profit after costs, interest and money set aside for bad loans.
- Assets and contingencies: the loans and cash the bank holds, plus commitments it has promised, such as guarantees.
- Denys Denya: a senior executive vice president at the bank, who gave the official comment on the results.
- AfCFTA: the African Continental Free Trade Area, a continent wide trade agreement the bank backs.
- CARICOM: the Caribbean Community, a group of Caribbean states that also belong to the bank.
Funding and the Gulf Crisis Programme
In July 2026 the bank issued a US$1.5 billion bond in two parts of US$750 million each. One part ran 5.5 years and the other 10 years, and investors asked for about twice the amount on sale.
Debt securities in issue rose to US$4.4 billion from US$3.4 billion at the end of 2025. Borrowing on that scale shows the bank relies on international bond markets to fund its loans.
The statement also points to the US$10 billion Gulf Crisis Response Programme, which the bank announced on Tuesday, 7 April 2026. It is meant to keep trade and payments moving for imports such as energy, fertiliser and food.
High impact investments rose 23% to US$1.6 billion from US$1.3 billion. The bank’s statement says it also keeps backing the AfCFTA and a continental payments system called PAPSS.
What It Means for US Readers
Afreximbank is a multilateral lender, not a company whose shares US investors can buy on a stock exchange. Their exposure comes mainly through its bonds and through the banks, traders and projects it finances.
The bank’s statement lists a Baa2 rating from Moody’s and BBB+ from S&P Global Ratings, two US rating agencies. Both grades are investment grade, and three other agencies also rate the bank.
For US exporters working in Africa, a lender with US$36.2 billion of net loans is a large source of trade credit. This article is not investment advice and gives no view on bond prices or any rating action.
What Is Not Known
The bank’s own website could not be opened, so the figures rest on its statement as distributed by APO Group. MyJoyOnline and Financial Afrik carry the same figures, but the release does not say whether auditors reviewed them.
The statement does not say how much of the rise in bad loans comes from any single country or sector. It also gives no new capital call beyond the US$195.2 million of equity already received.
Bond prices and rating agency reactions since the release were not found. No comment from a rating agency on the new figures has been confirmed.
What Comes Next
The bank has not given a date for full year 2026 results in the material read. Its first half statement came out on Monday, 24 August 2026 and its nine month statement on Monday, 26 October 2026.
Watch whether the bad loan ratio and the capital adequacy ratio keep moving in the same direction. Strong profit does not by itself show that the bank’s loan book is getting safer.
Frequently Asked Questions
How much profit did Afreximbank make in nine months?
Net profit was US$813.5 million for the nine months to 30 September 2026, up 24% from US$654.3 million. The bank announced it on Monday, 26 October 2026.
What is Afreximbank?
It is the African Export-Import Bank, a lender set up by African and Caribbean governments to finance trade. Its headquarters are in Cairo, Egypt.
Did the bank’s bad loans rise?
Yes, slightly. The non performing loan ratio was 2.48% against 2.43% at the end of 2025 and 2.20% at the end of June.
How strong is its capital?
The capital adequacy ratio was 22% against 23% at the end of 2025. Shareholders’ funds were US$9.0 billion, up from US$8.4 billion.
Can I buy Afreximbank shares?
It is owned by member states, not listed on a stock exchange. Investors can hold its bonds, and this article is not investment advice.
Sources: Afreximbank results statement, Cairo, 26 October 2026 (APO Group distribution); Financial Afrik, 26 October 2026; MyJoyOnline, 26 October 2026; Ghana Eye Report, 26 October 2026; Afreximbank first half 2026 results, 24 August 2026 (all accessed 27 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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