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Credit Agricole Egypt posts 30.5% YoY growth in Q1 standalone profit

Credit Agricole Egypt posts 30.5% YoY growth in Q1 standalone profit

ArabFinanceCredit Agricole Egypt (CIEB) has posted a 30.49% year-on-year (YoY) growth in standalone net income after tax for the first quarter (Q1) of 2022, according to the bank’s financial indicators filed to the Egyptian Exchange (EGX) on May 15th.

The bank recorded a standalone net income after tax of EGP 486.38 million in Q1 2022, compared to EGP 372.73 million in the year-ago period.

Meanwhile, interest income rose by 8.55% YoY in Q1 2022 to EGP 1.35 billion from EGP 1.24 billion.

Launched in 1996 and listed on the EGX in 2006, Crédit Agricole has subsidiaries operating across Egypt, working on commercial and professional services, in addition to thrifts and mortgage finance.

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