Credit Agricole Egypt records 35.7% YoY consolidated profit growth
Updated 11/13/2022 11:29:05 AM
Arab Finance: Credit Agricole Egypt (CIEB) posted a 35.74% year-on-year (YoY) increase in consolidated profit after tax during the first nine months of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on November 13th.
The bank’s consolidated profit after tax amounted to EGP 1.601 billion in the January-September period of 2022, compared to EGP 1.179 billion in the year-ago period.
Consolidated interest income increased to EGP 4.44 billion in the nine-month period ended September 30th from EGP 3.861 billion during the same period a year earlier.
Moreover, standalone net profit after tax rose to EGP 1.604 billion in the first nine months of 2022 from EGP 1.167 billion in the comparative period of 2021.
Launched in 1996 and listed on the EGX in 2006, Crédit Agricole has subsidiaries operating across Egypt, working on commercial and professional services, in addition to thrifts and mortgage finance.
