Afreximbank achieves solid first half 2024 growth

African Export-Import Bank has released its consolidated financial statements for the six months ended 30 June 2024.
The Group’s results for the six months period once again demonstrate  resilience amid challenging macro-economic conditions. The Group delivered solid year-on-year growth across key performance metrics and an increase in shareholder value.

Net Interest Income for H1’2024 grew by 24.5% to US$826.2 million, compared to US$663.6 million for the same period last year (H1’2023). The increase was driven by a 31.42% increase in interest income to US$1.5 billion, on the back of  growth in the Bank’s portfolio of Loans and advances. The Group’s performance for the period reflects that of the Bank as subsidiary entities are still in their early stages of development, with the notable exception of the Funds for Export Development in Africa (FEDA) which contributed US$11 million to the Net Interest Income of the Group, compared to US$9.1 million at H1’2023.