Afreximbank, the pan-African multilateral financial institution, has reported a significant increase in its gross income, reaching $1.47 billion in the first half of 2024, up from $1.12 billion at the end of 2023. The bank’s net interest income grew by 24.5% to $826.2 million, driven by an expansion in its loan portfolio. Additionally, total fees and commission income rose by 20.07% to $71.2 million.
Despite a slight decline in loans and advances due to the winding down of the Ukraine Crisis Adjustment Trade Financing Programme for Africa,
the bank’s overall performance was strong. At the 2024 annual general meeting, a dividend of $264.6 million was approved.
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Denys Denya, Afreximbank’s Senior Executive Vice President, highlighted the bank’s commitment to Africa’s economic resilience and its role in implementing the African Continental Free Trade Area, which aims to enhance economic integration and trade across the continent.
