Cairo – Mubasher: The consolidated net profits after tax of Crédit Agricole Egypt reached EGP 2.51 billion during the first half (H1) of 2023, higher than EGP 1.01 billion a year earlier, including minority interest.
During the first six months (6M) of 2023, the net interest income amounted to EGP 3.24 billion, an annual leap from EGP 1.64 billion, according to the interim consolidated financial results.
Total assets hit EGP 93.71 billion as of 30 June 2023, while the clients’ deposits reached EGP 74.98 billion.
Standalone Business
The bank logged standalone net profits after tax valued at EGP 2.50 billion in H1-23, up year-on-year (YoY) from EGP 1.01 billion.
Non-consolidated net interest income climbed to EGP 3.23 billion in January-June 2023 from EGP 1.62 billion in H1-22, while the earnings per share (EPS) jumped to EGP 1.81 from EGP 0.74.
Financial Results for Q2-23
Crédit Agricole Egypt posted a YoY hike in consolidated net profit after tax to EGP 1.28 billion during the second quarter (Q2) of 2023, compared to EGP 523.71 million, including non-controlling equity.
Net interest income surged to EGP 1.73 billion in Q2-23 from EGP 859.54 million in Q2-22.
As for the standalone statements, the net profits soared to EGP 1.28 billion in April-June 2023 from EGP 532.49 million, whereas the net interest income widened to EGP 1.73 billion from EGP 852.55 million. Meanwhile, the EPS climbed to EGP 0.93 from EGP 0.39.
In the January-March 2023 period, the EGX-listed bank posted a 148.96% leap in consolidated net profit after tax to EGP 1.22 billion, compared to EGP 491.54 million in Q1-22.
