Egypt's Crédit Agricole posts 60% higher profits in Q1

Egypt's Crédit Agricole saw its consolidated profits rise 60 percent to LE236 million in the first quarter of this year, compared to LE147.6 million in the same period last year.

The bank reported an 18.6 percent rise in its revenues from interest rates, in a press release on its financial results prior to auditing sent to the Egyptian stock exchange on Wednesday.

The Egypt-listed subsidiary of the French group saw its share price rise 0.82 percent on Wednesday at 11:30 Cairo Local Time to a record LE22 per share.