African Export-Import Bank (Afreximbank or the “Bank”) and its subsidiaries (the “Group”) delivered solid results for the nine-month period ended 30 September 2025, underscoring its continued financial resilience.
During the period, the total assets and contingencies rose by 6.98% to US$42.9 billion, up from US$40.1 billion as at 31 December 2024 (FY’2024), highlighting the Bank’s consistent growth trajectory.
While Net loans and advances closed at US$28.0 billion (FY 2024: US$29.0 billion), the reduction is largely attributable to unscheduled early repayments by clients whose financial positions have improved on account of enhanced cash flows and stronger foreign-currency positions driven by higher commodity prices. The Bank’s asset quality remains sound, evidenced by a Non-Performing Loan (NPL) ratio of 2.51%, compared to 2.33% in FY2024.
The Bank’s liquidity position remained strong, with cash and cash equivalents increasing to US$7.6 billion, up from US$4.6 billion in FY2024. This increase was driven by successful and targeted fundraising initiatives and unscheduled early loan repayments from borrowing customers. As a result, the proportion of liquid assets to total assets increased and accounted for 20%, compared to 13% in FY2024. This solid liquidity positions the Group well to support its planned disbursement activities.
Shareholders’ funds grew to US$7.7 billion as at 30 September 2025, supported by internally generated profits of US$654.3 million and new equity inflows of US$224.9 million mobilised under the General Capital Increase II. The reported Shareholders’ funds balances take into account the US$350 million dividend appropriated from FY’2024 profits.
Despite declining benchmark rates, gross income for the nine months to September 2025 rose to US$2.4 billion compared to US$2.3 billion achieved over the same period last year. Operating income also grew by 5.24% to US$1.44 billion, while maintaining strong cost efficiency with a cost-to-income ratio of 21% which is well below the strategic ceiling of 30%.
Resultantly, Net income also grew, increasing from US$642.2 million in 9M’2024 to US$654.3 million in 9M’2025.
Highlights of the results for Afreximbank Group are shown below:
| Financial Performance Metrics | 9M’2025 | 9M’2024 |
| Gross Income (US$ billion) | 2.4 | 2.3 |
| Net Income (US$ million) | 654.3 | 642.2 |
| Return on average equity (ROAE) | 12% | 13% |
| Return on average assets (ROAA) | 2.35% | 2.64% |
| Cost-to-income ratio | 21% | 17% |
| Financial Position Metrics | 9M’2025 | 9M’2024 |
| Total Assets (US$ billion) | 37.6 | 32.2 |
| Total Liabilities (US$ billion) | 29.9 | 25.6 |
| Shareholders’ Funds (US$ billion) | 7.7 | 6.6 |
| Net asset value per share (US$) | 72,429 | 66,881 |
| Non-performing loans ratio (NPL) | 2.51% | 2.42% |
| Cash/Total assets | 20% | 12% |
| Capital Adequacy ratio (Basel II) | 25% | 25% |
Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:
“Amid persistent geopolitical tensions, global uncertainty, and tight financial conditions, the Group demonstrated resilience and delivered a satisfactory performance for the nine-month period ended 30 September 2025, in line with expectations. This resilience, as reflected in strong liquidity, a robust capital base, and high-quality assets, underscores the Group’s ability to navigate through the challenging operating environment. Beyond supporting profitability, the demonstrated resilience will serve as a springboard for expanding lending activities, enhancing capacity to deliver on the Group’s mandate, and creating sustainable long-term value in line with the 6th Strategic Plan.”
