Arab Finance: Credit Agricole’s consolidated net profits after tax rose 113.68% year-on-year (YoY) during 2023, according to an EGX disclosure on February 7th.

The lender achieved net profits after tax amounting to EGP 5.166 billion last year, up from EGP 2.417 billion in 2022.

Interest income increased 88.80% YoY hitting EGP 11.952 billion in 2023, compared to EGP 6.330 billion a year earlier.

Credit Agricole’s standalone net profit after tax was up 112.57% YoY in 2023 reaching EGP 5.142 billion, up from EGP 2.419 billion in 2022.

Launched in 1996 and listed on the EGX in 2006, Credit Agricole provides commercial banking services, including deposits, loans, and credit cards; asset management services including fund, portfolio, and wealth management; investment banking services including corporate finance and investment advisory on mergers and acquisitions, initial public offering, and underwriting.

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