Afreximbank Releases Abridged Audited 2018 Financial Statements, Shows Continued Strong Performance

Categories: News, Press Releases

Cairo, 07 April 2019: – The African Export-Import Bank (Afreximbank) has released its abridged audited financial statements for the year ended 31 December 2018, showing strong financial and operational performance, with total comprehensive income for the year amounting to $285.4 million.

The total comprehensive income reflects a solid growth of 24 per cent compared to the prior year performance of $229.8 million and was achieved mainly due to higher net income in 2018 amounting to $ 275.9 million compared to $220.5 million in 2017.

The results, released in Cairo, show that the Bank’s total assets grew by 13 per cent from $11.91 billion as at 31 December 2017 to $13.42 billion as at 31 December 2018, with that result explained mainly by the solid growth in net loans and advances which went up 30.3 per cent.

Commenting on the results, Bank President Prof. Benedict Oramah said that the performance was a reflection of the strength of Afreximbank’s underlying business and restated commitment to “driving our strategic objectives, to strong orderly growth in assets and earnings.”

The result highlights include:

Financial Metrics 2018 ($ million) 2017 ($ million)
Net Interest & similar Income 403.8 338.3
Net Fee & Commission Income 83.7 30.3
Operating Income 489.8 372.1
Operating Expenses 87.6 66.5
Operating Profit Before Impairment & Provisions 394.8 285.7
Profit for the Year 275.9 220.5
Total Assets 13,419.4 11,913.4


  Dec 2018 Dec 2017

Return on average assets (ROAA)

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Asset Quality

Non-performing loans ratio (NPL)

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Capital Adequacy

Capital Adequacy ratio (Basel II)






Afreximbank, which implements its programmes and facilities through five-year strategic plans, began implementing its fifth strategic plan, dubbed “Impact 2021, Africa Transformed”, in 2018. That strategy is anchored on four pillars: Improving Intra- Africa Trade; Facilitating Industrialization and Export Development; Strengthening Trade Finance Leadership; and Improving Financial Soundness and Performance.


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About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $67 billion in credit facilities for African businesses, including $7.2 billion in 2018. Afreximbank had total assets of $13.4 billion as at 31 December 2018. It is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: