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Afreximbank income exceeds $1b mark - Printable Version +- Forums (http://contripeople.com) +-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5) +--- Forum: Market Place (http://contripeople.com/forumdisplay.php?fid=77) +--- Thread: Afreximbank income exceeds $1b mark (/showthread.php?tid=31074)

Afreximbank income exceeds $1b mark - Edoman - 04-09-2020 Afreximbank income exceeds $1b mark April 9, 2020 [/url] [url=https://thenationonlineng.net/wp-content/uploads/2020/04/Afreximbank.jpg] The African Export-Import Bank (Afreximbank) has released its audited financial statements for the year ended December 31, 2019, showing where it achieved $1.1 billion gross income. The figure, which represented 29 per cent growth, was an improvement from $813.9 million posted in 2018. Afreximbank’s total assets grew by 7.6 per cent from $13.42 billion  on December 31, 2018 to $14.44 billion, explained by the growth in net loans and advances. The bank’s President, Benedict Oramah, expressed satisfaction with the results, noting that the performance exceeded strategic targets, despite a global environment characterised by uncertainties. He said the bank had “continued to deliver the objectives of its five-year strategic plan, dubbed IMPACT 2021, by prioritising initiatives aimed at promoting and financing intra-African trade”. Addressing concerns about COVID-19, whose emergence early in the year has raised concerns about a global recession, he said Afreximbank was taking steps to manage the impact, particularly on the loans and advances from customers that may be impacted, adding,:“Afreximbank is making arrangements to support its member countries in need”.