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Credit Agricole Egypt’s profit up 14% in 9M initial financials

Credit Agricole Egypt achieved consolidated net profits of EGP 1.179 billion in the first nine months of 2021, up by 13.8% year-on-year (YoY) from EGP 1.036 billion, the unaudited financial results showed.

The bank’s net interest income increased to EGP 2.19 billion in the January-September period of 2021, compared to EGP 2.15 billion in the prior-year period, according to a bourse disclosure on Thursday.

The standalone net profits rose to EGP 1.167 billion in the period ended 30 September from EGP 1.031 billion in the corresponding period a year earlier.

During the first half (H1) of 2021, the bank posted consolidated net profits of EGP 767.09 million, up from EGP 701.02 million in H1-20