FINANCIAL AND OPERATIONAL PERFORMANCE of African Export-Import Bank, Afreximbank, rose in 2018 to $285.4 million dollars from $229.8 million dollars in 2017 performance. The income showed 24 percent compared to 2017.
The increase was largely due to higher net income which amounted to 275.9 million dollars compared to 220.5 million dollars in 2017. Afreximbank’s total assets grew by 13 percent from 11.91 billion dollars in 2017 to 13.42 billion dollars in 2018.
Afreximbank’s statement signed by Head of Media, Obi Emekekwue, Sunday, in Abuja, quoted Benedict Oramah, the bank’s president as releasing the figures. Oramah said the sum is the bank’s abridged audited financial statements for the year ended December 31, 2018.
Oramah said there was growth in the net loans and advances, which increased by 30.3 percent. The performance was reflection of the strength of Afreximbank’s underlying business. He restated commitment to driving the bank’s strategic objectives to strong orderly growth in assets and earnings.