Afreximbank Reports Strong H1 2025 Results, Announces New President

In the face of mounting global economic uncertainty, the African Export-Import Bank Group (Afreximbank) has reported a strong financial performance for the first half of 2025 (H1’2025), with growth in income, liquidity, and capital buffers, despite tighter global financing conditions, currency volatility, and persistent inflationary pressures.

The Group’s consolidated financial results for the six months ended 30 June 2025 reflect a resilient and well-capitalised institution that continues to play a leading role in promoting African and Caribbean trade, industrialisation, and economic integration.

Financial Highlights: Stable Growth Despite Global Headwinds

Afreximbank achieved a gross income of US$1.6 billion in H1’2025, representing a 2.04% increase over the comparative period in 2024. Net interest income stood at US$835.9 million, up 1.17% year-on-year. The modest growth reflects efficient cost management, especially amidst a decline in global benchmark interest rates.

Income from non-lending activities also remained healthy, with gross fee and commission income reaching US$61.9 million. These earnings were largely derived from the Group’s unfunded trade support services, such as guarantees, letters of credit, and advisory services.

“Afreximbank Group reported satisfactory performance… demonstrating agility and resilience despite operating in a challenging environment,” said Denys Denya, the Bank’s Senior Executive Vice President.

Operating Costs and Capital Strength

While operating expenses increased by 21%, driven by strategic initiatives, staff expansion, and inflationary pressures, the Group maintained a cost-to-income ratio of just 19%—well below the strategic ceiling of 30%. This indicates strong cost discipline even as the Bank expands its operational footprint.

• Shareholders’ funds grew to US$7.3 billion, up from US$7.2 billion at the end of 2024.

• This growth was supported by internally generated profits of US$412.7 million and fresh equity inflows through the ongoing General Capital Increase II programme.

• A total dividend of US$350 million was approved and appropriated for FY’2024.

Liquidity and Portfolio Quality

Afreximbank’s on-balance sheet and contingent assets stood at US$42.5 billion, up 6% from FY’2024. The loan book was reported at US$27.7 billion, a slight decline from US$29.0 billion in FY’2024. This reduction was primarily due to early repayments by sovereign borrowers, many of whom benefited from stronger commodity export earnings and improved foreign currency reserves.

Despite the drop in the loan portfolio, the quality of assets remained strong, with non-performing loans (NPLs) at 2.48%, compared to 2.33% in FY’2024—well within the Bank’s risk tolerance.

Meanwhile, the Group’s liquidity ratio surged to 22% from 13%, with cash and cash equivalents rising to US$8.3 billion, up from US$4.6 billion in FY’2024. This robust liquidity position allows the Bank to respond effectively to evolving member-state financing needs.

Strategic Outlook: Expansion and Resilience

Amid tightening global liquidity and geopolitical tensions, Afreximbank remains committed to its developmental mandate—supporting member states with innovative financial instruments, trade finance, and crisis response mechanisms.

“The Group continued to support member states with innovative financial solutions… leveraging on a robust capital base, access to capital markets, and Management’s excellent knowledge of the African and Caribbean markets,” Denya added.

The Bank’s continued access to global capital markets and investor confidence—reflected in its balance sheet strength—ensures its capacity to provide critical support, particularly in trade-enabling infrastructure, export development, and industrialisation.

Leadership Transition: Dr. George Elombi Appointed as President

The period also marks a significant leadership transition at Afreximbank. At the Bank’s Annual General Meeting (AGM) in June 2025, Dr. George Elombi was unanimously appointed as the next President and Chairman of the Board, succeeding Professor Benedict Oramah, whose second term concludes in October 2025.

Dr. Elombi brings nearly 30 years of experience within Afreximbank and currently serves as Executive Vice President overseeing Governance, Legal, and Corporate Services.

His appointment signals continuity, institutional depth, and strategic foresight. He is expected to further Afreximbank’s mission of enhancing intra-African trade, supporting the African Continental Free Trade Area (AfCFTA), and building economic bridges with the Caribbean Community (CARICOM).

Looking Ahead

With solid financials, strengthened liquidity, and dynamic leadership, Afreximbank is well-positioned to continue its role as a pan-African financial catalyst, navigating volatility while championing trade integration, industrial expansion, and financial sovereignty across the African continent and beyond.

“The Group’s fundamentals remain strong, and management continues to focus on delivering long-term value to all stakeholders, while safeguarding Africa’s financial sovereignty,” Denya affirmed.