Cairo – Mubasher: Crédit Agricole Egypt recorded consolidated net profit after tax of EGP 2.28 billion in the first quarter (Q1) of 2024, a jump from EGP 1.22 billion in the same quarter a year earlier.
Net interest income leapt to EGP 2.68 billion in Q1-24 from EGP 1.50 billion in Q1-23, according to financial statements.
Total assets rose to EGP 110.51 billion in the three-month period that ended on 31 March 2024, versus EGP 106.17 billion in the corresponding period of 2023.
Customers’ deposits inched higher to EGP 84.35 billion in the January-March period from EGP 84.17 billion a year earlier.
Standalone Results
The bank’s standalone net profit increased to EGP 2.29 billion in Q1-24 from EGP 1.22 billion the year before.
Net interest income grew to EGP 2.67 billion in the first three months (3M) of 2024 from EGP 1.49 billion in Q1-23.
The earnings per share (EPS) reached EGP 1.63 in Q1-24, up from EGP 0.87 in the same period a year earlier.
It is worth noting that Crédit Agricole Egypt posted a consolidated net income of EGP 5.16 billion in 2023, a 113.68% YoY surge from EGP 2.41 billion.
