Crédit Agricole Egypt’s consolidated profits surpass $121.6mln in 9M-24

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Crédit Agricole Egypt logged consolidated net profits valued at EGP 6.08 billion in the first nine months (9M) of 2024, higher than EGP 3.81 billion in 9M-23.

Net interest income amounted to EGP 8.21 billion in 9M-24, marking an annual hike from EGP 5.24 billion, according to the financial results.

Total assets jumped to EGP 115.63 billion as of 30 September 2024 from EGP 106.17 billion at the end of December 2023.

The EGX-listed lender registered customers’ deposits worth EGP 83.96 billion in 9M-24, down from EGP 84.17 billion in 2023.

Standalone Results

Non-consolidated net profit after tax reached EGP 6.05 billion in the January-September 2024 period, up year-on-year (YoY) from EGP 3.80 billion.

Crédit Agricole Egypt reported net interest income standing at EGP 8.18 billion in 9M-24, compared to EGP 5.22 billion in 9M-23. Basic and diluted earnings per share (EPS) grew to EGP 4.32 from EGP 2.71.

Financials for Q3-24

In the third quarter (Q3) of 2024, the bank’s consolidated net profits widened to EGP 1.87 billion from EGP 1.29 billion in Q3-23, while the net interest income hiked to EGP 2.81 billion from EGP 1.99 billion.

As for the standalone earnings, the net profits enlarged to EGP 1.86 billion from EGP 1.29 billion, whereas the net interest income climbed to EGP 2.80 billion from EGP 1.98 billion.

During the first half (H1) of 2024, Crédit Agricole Egypt generated EGP 4.21 billion in consolidated net profit, up YoY from EGP 2.51 billion.