{"id":102656,"date":"2024-11-18T17:03:47","date_gmt":"2024-11-18T17:03:47","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/11\/18\/afreximbank-q3-net-income-grows-to-642m\/"},"modified":"2024-11-18T17:03:47","modified_gmt":"2024-11-18T17:03:47","slug":"afreximbank-q3-net-income-grows-to-642m","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/afreximbank-q3-net-income-grows-to-642m\/","title":{"rendered":"Afreximbank Q3 net income grows to $642M"},"content":{"rendered":"

African Export-Import Bank Group has reported a 22.9pc growth in earnings for the nine months period ended September this year.<\/strong><\/p>\n

Afreximbank says net income rose to $642.2 million compared to $522.5 million reported over the same period last year.<\/p>\n

The Cairo-based Pan-African multilateral lender attributes the improved earnings which beat expectation despite challenging environment to stronger net interest income which grew by 22.1pc to $1.3 billion, compared to $1 billion reported over the nine month period last year on the backdrop of interest income which surged by 24.6pc to $2.2 billion.<\/p>\n

\u201cThis solid performance was underpinned by growth in business volumes and healthy spreads, while maintaining a low cost-to-income ratio. Additionally, we maintained a healthy and strong balance sheet with robust liquidity position to drive the expected growth in the fourth quarter,\u201d said Denys Denya, Afreximbank Senior Executive Vice President.<\/p>\n

Afreximbank says Shareholders\u2019 Funds rose by 7.96pc to reach $6.6 billion compared to $6.1 billion due to a combination of retained profits and fresh equity contributions.<\/p>\n

The lender which is mandated to finance, facilitate and promote intra and extra-African trade also closed the third quarter with an asset base of $32.2 billion compared to $33.47 billion over the same period last year.<\/p>\n

The post Afreximbank Q3 net income grows to $642M<\/a> first appeared on KBC<\/a>.<\/p>\n

The post Afreximbank Q3 net income grows to $642M<\/a> appeared first on KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

African Export-Import Bank Group has reported a 22.9pc growth in earnings for the nine months period ended September this year. Afreximbank says net income rose to $642.2 million compared to $522.5 million reported over the same period last year. The Cairo-based Pan-African multilateral lender attributes the improved earnings which beat expectation despite challenging environment to […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-102656","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/102656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=102656"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/102656\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=102656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=102656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=102656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}