04-09-2020, 03:58 PM
Afreximbank income exceeds $1b mark
April 9, 2020
[/url]
[url=https://thenationonlineng.net/wp-content/uploads/2020/04/Afreximbank.jpg]
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”.
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”.