The African Export-Import Bank (Afreximbank) has posted a net profit of $973.5 million for the financial year ended 31st December 2024, marking a 29% rise from the previous year.
- •The multilateral institution’s net loans and advances rose 8.54% to $29.0 billion, covering 47 African and 10 CARICOM countries, while total assets and contingencies reach US$ 40.1 billion, up from US$ 37.3 billion in FY2023.
- •Total income has increased 23% to US$ 3.3 billion, driven by high lending volumes and rising market interest rates while net interest income grew 25% to US$ 1.8 billion, reflecting better asset-liability management.
- •FEDA, the Bank’s equity arm, increased its portfolio to US$ 565.3 million, focusing on healthcare, agribusiness, and industry while the insurance arm AfrexInsure now covers US$ 3.54 billion in assets across 17 countries, keeping 97% of premiums within Africa.
| Metric | FY2024 | FY2023 | Change |
|---|---|---|---|
| Net Profit | $973.5M | $756.1M | +29% |
| Gross Income | $3.3B | $2.6B | +23% |
| Net Interest Income | $1.8B | $1.4B | +25% |
| Total Assets (On-balance) | $35.3B | $33.5B | +5.37% |
| Total Assets + Contingencies | $40.1B | $37.3B | +7.55% |
The non-performing loan ratio dropped to 2.33%, reflecting sound risk management. Operating expenses rose 21% to US$ 367.7 million, yet the cost-to-income ratio improves to 18%. Shareholders’ equity grew 17% to US$ 7.2 billion, boosted by profits and US$ 412.8 million in new equity while the capital adequacy ratio remains strong at 24%.
“We exceeded expectations despite global challenges, We remain focused on sustainable growth.”
Denys Denya, Senior EVP
| Asset Quality Metric | FY2024 | FY2023 |
|---|---|---|
| NPL Ratio | 2.33% | 2.47% |
| ROAA | 2.96% | 2.56% |
| ROAE | 15.31% | 13.31% |
PAPSS added 3 central banks and 50 commercial banks, reaching 144 banks and 16 central banks in total. In 2024, it launched the African Currency Marketplace, facilitating trade in 12 African currencies.
In Q4, Afreximbank priced a JPY 67.2 billion Samurai bond, including a JPY 14.1 billion retail tranche. It also received a AAA rating from China Chengxin International, the highest for any African multilateral.
Afreximbank will co-host the Intra-African Trade Fair 2025 in Algiers from 4–10 September, supporting AfCFTA goals.
