Credit Agricole Egypt records 55.4% surge in 2024 consolidated profits
Updated 2/5/2025 10:00:00 AM
Arab Finance: Credit Agricole Egypt posted consolidated net income after tax valued at EGP 8.03 billion in 2024, higher by 55.43% year-on-year (YoY) than EGP 5.16 billion, according to the unaudited financial results.
Interest income jumped by 50.16% to EGP 17.94 billion as of December 31st, 2024, from EGP 11.95 billion in 2023.
The bank recorded deposits amounting to EGP 95.48 billion in 2024, an annual jump of 13.44% from EGP 84.17 billion.
As for the standalone results, the net income after tax hiked by 55.59% YoY to EGP 8 billion in the January-December period of 2024, versus EGP 5.14 billion.
Non-consolidated earnings per share (EPS) enlarged by 55.71% YoY to EGP 5.70 in 2024 from EGP 3.66, while the interest income widened by 50.18% to EGP 17.87 billion from EGP 11.90 billion.
In the first nine months of 2024, the bank’s net profits after tax and minority interest hiked by 59.7% to EGP 6.086 billion from EGP 3.812 billion a year earlier.
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