Arab Finance: Credit Agricole Egypt (CIEB) posted a 147.5% year-on-year (YoY) rise in consolidated profit attributable to the parent company during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 2nd.

The bank’s consolidated profit excluding minority interest grew to EGP 2.512 billion in H1 2023 from EGP 1.015 billion the year before.

Consolidated net interest income increased to EGP 3.244 billion in the January-June period from EGP 1.640 billion during the same period a year earlier.

Moreover, standalone net profit after tax rose to EGP 2.509 billion in H1 2023 from EGP 1.019 million in the comparative period in 2022.

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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