Afreximbank recorded a net income of $412.7 million during the first half of 2025.
Afreximbank Reports Resilient Growth and Solid Financial Performance
Afreximbank, the African export-import bank, has released its consolidated financial statements for the six months ended 30 June 2025, showcasing resilience and solid growth.
The bank's gross income for the first half of 2025 stands at US$1.6 billion, marking a 2.04% increase from the same period in 2024. This growth is largely attributed to a gross fee and commission income from unfunded activities totaling US$61.9 million.
The bank's net income for H1 2025 is US$412.7 million, an increment from US$407.7 million in H1 2024. This growth is underpinned by a net interest income of US$835.9 million, up 1.17%. However, the cost-to-income ratio for H1 2025 is 19%, up from 17% in H1 2024, primarily due to increased operating expenses resulting from strategic initiatives, recruitment, and inflationary pressures.
Liquidity improved significantly, with cash and cash equivalents rising to US$8.3 billion. This has resulted in a liquidity ratio for H1 2025 of 22%, up from 13% in FY 2024. The bank's balance sheet and contingent items reached US$42.5 billion at the end of H1 2025, representing a 6% growth from December 2024.
Loans and advances stood at US$27.7 billion, slightly lower than US$29.0 billion at the end of FY 2024. Non-performing loans remained at prudent levels, closing at 2.48%.
In a significant development, Dr. George Elombi has been unanimously approved as the fourth President and Chairman of the Board of Directors of Afreximbank, succeeding Professor Benedict Oramah. Dr. Elombi, who has served with Afreximbank for nearly three decades and is currently Executive Vice President for Governance, Legal, and Corporate Services, will take up his new role on an interim basis until his formal inauguration.
As of June 2025, no information about a new president and chairman of the board at Afreximbank was found in the available search results. The current public sources do not confirm an appointment for this position during that period.
Shareholders' funds for H1 2025 are US$7.3 billion, the same as in FY 2024. Total assets for H1 2025 are US$37.7 billion, an increase from US$35.3 billion in FY 2024.
In conclusion, Afreximbank's financial performance for the first half of 2025 reflects a robust growth trajectory, despite the challenging economic environment. The bank remains committed to its mission of financing and promoting intra-African and African trade.
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