Egypt: Credit Agricole’s consolidated profits rise 60%YoY in 9 months

Credit Agricole Egypt (CIEB) recorded a 59.7% year-on-year (YoY) increase in consolidated net profits after tax and minority interest in the first nine months of 2024 to EGP 6.086 billion from EGP 3.812 billion, the bank stated.

Net interest income hit EGP 8.211 billion during the January-September period of 2024, up from EGP 5.24 billion in the same period a year ago.

The bank’s standalone net profits after tax soared to EGP 6.06 billion in the nine-month period, compared to EGP 3.806 billion in the same period last year.

Meanwhile, standalone net interest income dropped to EGP 1.035 billion from EGP 1.168 billion.

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.

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