The African Export-Import Bank made record profits last year despite global money troubles. Its net income jumped 29 percent to $973.5 million through December 2024. Total income grew to $3.3 billion as the bank handled more business. It managed borrowing costs well, pushing interest income up 25 percent to $1.8 billion. The bank became more efficient, with expenses taking just 18 percent of income.
Total assets, including guarantees, reached $40.1 billion, a healthy rise from last year. Customers' loans increased alongside investments in buildings. Construction sped up on trade centers in Nigeria and Zimbabwe. Shareholder funds grew 17 percent to $7.2 billion from profits and new capital contributions. Bloomberg ranked Afreximbank first among African capital markets in three categories. Libya and Somalia became the newest African member countries.
The bank launched new bonds in Japan late last year and received the highest possible AAA rating from a Chinese credit agency. Senior Executive Denys Denya called the results robust despite challenging global conditions. He said the bank maintains strong cash reserves and high-quality loans. The bank plans to host a major trade fair next year in Algeria, continuing its work promoting African business connections.
Total assets, including guarantees, reached $40.1 billion, a healthy rise from last year. Customers' loans increased alongside investments in buildings. Construction sped up on trade centers in Nigeria and Zimbabwe. Shareholder funds grew 17 percent to $7.2 billion from profits and new capital contributions. Bloomberg ranked Afreximbank first among African capital markets in three categories. Libya and Somalia became the newest African member countries.
The bank launched new bonds in Japan late last year and received the highest possible AAA rating from a Chinese credit agency. Senior Executive Denys Denya called the results robust despite challenging global conditions. He said the bank maintains strong cash reserves and high-quality loans. The bank plans to host a major trade fair next year in Algeria, continuing its work promoting African business connections.
