Cairo-based African Export-Import Bank 2018 net profit rises 25%

The African Export-Import Bank (Afreximbank), a Cairo-based multilateral institution focused on financing and promoting trade in Africa, said its 2018 net profit rose 25.2 percent to around $276 million.

In 2017, the bank’s net profit stood at $220.5 million.

Total assets increased by 13 percent to $13.42 billion at the end of December 2018, from $11.91 billion in the previous year, the bank said in a statement on Sunday. Net loans and credit facilities jumped 30.3 percent in 2018, the bank added.