The African Export-Import Bank (Afreximbank) posted a 25% jump in first-quarter net income, the Cairo-based lender said in a statement Friday, as expanded lending activity drove profit higher across all key income lines.

Profit for the three months ended March 31 reached $268.9 million, up from $215.4 million in the same period of 2025, according to the statement.

Total interest income rose 14% year-on-year to $813.6 million, while net interest income climbed 24% to $510 million, both gains recorded despite declining global benchmark rates.

The results indicate that Africa’s primary trade finance institution is growing its balance sheet faster than it costs to run. The bank’s cost-to-income ratio held at 19%, against a self-imposed ceiling of 30%.

Total credit exposure grew 2% to $42 billion from $41 billion at end-2025, the bank said. Average loans and advances stood at $32 billion, up 8% from Q1 2025.

Cash and cash equivalents reached $5.6 billion, equal to 14% of total assets, and the non-performing loan ratio stayed at 2.40%, broadly flat from year-end.

Year‑on‑Year Comparison (Q1 2026 vs Q1 2025)

Denys Denya, Afreximbank’s Senior Executive Vice President, said the growth in net interest income and profitability confirmed the strength of the bank’s operating model and the continued relevance of its mandate.

The bank also moved to cushion member states from geopolitical disruption. In March, it launched a $10 billion Gulf Crisis Response Program to help member countries absorb spillover effects from the Gulf crisis, the statement said.

South Africa’s ratification of the bank’s Establishment Agreement in February gave Afreximbank full continental membership coverage, adding one of the continent’s largest economies to its shareholder base.

Shareholders’ funds rose to $8.6 billion at March 31, from $8.4 billion at end-2025, supported by the quarter’s internally generated capital and new equity investments received during the period.