Credit Agricole Egypt’s Q1 consolidated profit jumps 29.8% YoY
Updated 5/22/2022 1:56:00 PM
Arab Finance: Credit Agricole Egypt (CIEB) reported a 29.85% year-on-year (YoY) growth in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2022, according to the bank’s consolidated financial statement filed to the Egyptian Exchange (EGX) on May 22nd.
The bank’s consolidated net interest income grew to EGP 781.30 million in Q1 2022 from EGP 705.14 million in Q1 2021.
Meanwhile, the bank’s standalone net profit after tax stood at EGP 486.38 million in the three-month period ended March 31st, up from EGP 372.73 million in the same quarter last year, according to the standalone financial statement.
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.
