Crédit Agricole Egypt generates over $81mln consolidated profits in H1-23

The consolidated net profits after tax of Crédit Agricole Egypt reached EGP 2.51 billion during the first half (H1) of 2023, higher than EGP 1.01 billion a year earlier, including minority interest.

During the first six months (6M) of 2023, the net interest income amounted to EGP 3.24 billion, an annual leap from EGP 1.64 billion, according to the interim consolidated financial results.

Total assets hit EGP 93.71 billion as of 30 June 2023, while the clients’ deposits reached EGP 74.98 billion.

Standalone Business

The bank logged standalone net profits after tax valued at EGP 2.50 billion in H1-23, up year-on-year (YoY) from EGP 1.01 billion.

Non-consolidated net interest income climbed to EGP 3.23 billion in January-June 2023 from EGP 1.62 billion in H1-22, while the earnings per share (EPS) jumped to EGP 1.81 from EGP 0.74.