The African Export-Import Bank (Afreximbank) has reported $285.4 million as total income for 2018 financial year.
In an abridged audited financial statements for the year ended 31 December, 2018, released yesterday, the bank showed it made 24 per cent growth in its comprehensive income in 2018, compared to the previous year.
The bank recorded $229.8 million as comprehensive income in 2017.
According to the statement, the growth in income recorded in 2018 financial year was achieved mainly due to higher net income in 2018 amounting to $275.9 million compared to $220.5 million in 2017.
The results showed 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 the result explained mainly by the solid growth in net loans and advances which went up 30.3 per cent.
In his statement on the results, Afreximbank president, Prof. Benedict Oramah, said the performance was a reflection of the strength of the bank’s underlying business and restated commitment to “driving strategic objectives, to strong orderly growth in assets and earnings.”


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