Cairo – Mubasher: Crédit Agricole Egypt posted consolidated net profits after tax amounting to EGP 3.81 billion in the first nine months (9M) of 2023, higher by 138.05% year-on-year (YoY) than EGP 1.60 billion.
Net interest income hiked to EGP 5.24 billion during the January-September 2023 period from EGP 2.61 billion in 9M-22. according to the consolidated financials.
Total assets enlarged to EGP 100.56 billion in 9M-23 from EGP 75.36 billion as of 31 December 2022, while the customer deposits widened by 33.50% to EGP 80.75 billion from EGP 60.49 billion.
Standalone Business
Non-consolidated net profits after tax reached EGP 3.80 billion in 9M-23, marking a 137.19% YoY leap from EGP 1.60 billion.
The EGX-listed lender generated net interest income worth EGP 5.22 billion as of 30 September 2023, versus EGP 2.59 billion in the year-ago period.
Basic and diluted earnings per share (EPS) amounted to EGP 2.74 in the January-September 2023 period, an annual growth from EGP 1.16.
Financials for Q3-23
In the third quarter (Q3) of 2023, the bank logged consolidated net profits valued at EGP 1.29 billion, an annual surge from EGP 586.18 million.
The net interest income widened to EGP 1.99 billion in Q3-23 from EGP 975.29 million a year earlier.
Standalone net profits after tax jumped to EGP 1.29 billion in July-September 2023 from EGP 585.58 million in Q3-22, while the net interest income climbed to EGP 1.98 billion from EGP 967.81 million.
During the first half (H1) of 2023, Crédit Agricole Egypt registered EGP 2.51 billion in consolidated net profit after tax, higher than EGP 1.01 billion in H1-22, including minority interest.
