Cairo – Mubasher: The consolidated net profits of Crédit Agricole Egypt enlarged to EGP 4.21 billion in the first half (H1) of 2024 from EGP 2.51 billion in H1-23.
Net interest income hit EGP 5.39 billion in H1-24, up year-on-year (YoY) from EGP 3.24 billion, according to the interim financial statements.
Total assets hiked to EGP 114.36 billion at the end of June 2024 from EGP 106.17 billion as of 31 December 2023.
Standalone Results
Crédit Agricole Egypt posted an annual increase in standalone net profit after tax to EGP 4.19 billion during H1-24, versus EGP 2.50 billion.
Non-consolidated net interest income rose to EGP 5.37 billion in H1-24 from EGP 3.23 billion in H1-23, while the earnings per share (EPS) grew to EGP 2.99 from EGP 1.81.
Financials for Q2
The bank achieved consolidated profits worth EGP 1.92 billion in the second quarter (Q2) of 2024, compared to EGP 1.28 billion in Q2-23. Meanwhile, the net interest income enlarged to EGP 2.70 billion from EGP 1.73 billion.
Standalone profits widened to EGP 1.90 billion in April-June 2024 from EGP 1.28 billion in Q2-23, whereas the net interest income climbed to EGP 2.69 billion from EGP 1.73 billion.
Furthermore, the EPS increased to EGP 1.34 in Q2-24 from EGP 0.93 a year earlier.
In the three-month period that ended on 31 March 2024, the EGX-listed lender generated consolidated net profit after tax valued at EGP 2.28 billion.
