African Export-Import Bank (Afreximbank) reported a Q1 2026 profit of $268.9 million, up from $215.4 million in Q1 2025, amid its drive to advance Africa’s economic development.
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The profit for the three months ended March 31, 2026, came as net interest income increased by 24% to $510.0 million, compared with $411.2 million in the first quarter of 2025, according to the bank’s statement on Friday.
Nairametrics recalls that the bank reported a 2025 profit of $1.15 billion, equivalent to about N1.5 trillion, up from $973.5 million in 2024, reflecting stronger earnings performance.
What the bank is saying
According to the bank, average loans and advances for Q1 2026 stood at $32 billion, up 8% compared to the same period in the previous year, driving the growth in interest income.
- The non-performing loan (NPL) ratio during the period stood at 2.40%, broadly in line with 2.43% recorded in FY2025 and below the industry average, even as the bank maintained that its asset quality remained strong during the period.
- Total liabilities increased to $33.9 billion in Q1 2026 from $33.0 billion in FY 2025.
- Shareholders’ funds increased to $8.6 billion as of March 31, 2026, up from $8.4 billion in FY2025.
The bank maintained that the results demonstrate continued resilience, disciplined balance sheet management, and strong deal execution despite a challenging global operating environment.
Commenting on the bank’s outlook, Mr. 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.”
He stated that the bank remains focused on stabilising trade flows, easing liquidity pressures, and advancing the industrial and economic transformation of Africa and the Caribbean.
Get up to speed
Nigeria has been a key beneficiary of Afreximbank’s economic advancement initiatives on the continent.
In 2025, the bank announced the signing of a $1.35 billion financing facility in favour of Dangote Industries Limited (DIL) as part of a larger $4 billion syndicated financing arrangement for the company, Africa’s largest industrial conglomerate.
The financing was one of the largest syndicated loans in African financial markets and was designed to refinance capital expended on the construction of the Dangote Petroleum Refinery and Petrochemicals.
What you should know
Afreximbank is a multilateral financial institution established to promote and finance intra-African and extra-African trade. Its core mandate is to support economic growth, trade development, and industrialisation across the continent.
In March this year, the bank announced it secured $2 billion through a three-year dual tranche syndicated term loan facility, marking the largest syndicated borrowing in the bank’s history.
The fundraising effort came months after the bank ended its credit rating relationship with Fitch Ratings following a downgrade in 2025.
The fallout stemmed from Fitch’s June 2025 decision to downgrade Afreximbank’s long-term credit rating from BBB to BBB-, with a negative outlook — a move the bank strongly contested.
