Afreximbank posts $343 million gross revenue in first half of 2018
The African Export-Import Bank, Afreximbank, has released its unaudited financial statements for the half-year period ended 30June 2018, showing gross revenue of $343 million.
The figure represents a $21 million increase over the gross revenue for the same period in 2017.
The results, released by the Bank in Cairo, attributed the higher gross revenue to a significant increase in fee income by 119 per cent while interest and similar income recorded a 2 per cent growth compared to prior year performance.
The Bank's attributable earnings over the six months also amounted to $110 million, beating the budget by 34 per cent.
The key profitability ratios equally came in well above budget, with the return on the Bank's average shareholders' equity (ROAE) standing at 10per cent, compared to the budget: of 8.08 per cent, and the return on the average assets (ROAA) at 1.88 per cent as against the budget of 1.57 per cent.