Arab Finance: Credit Agricole Egypt (CIEB) posted a 138.05% year-on-year (YoY) increase in consolidated profit after tax during the first nine months of 2023, according to financial indicators filed to the Egyptian Exchange (EGX) on November 12th.

The bank’s consolidated profit after tax amounted to EGP 3.812 billion in the January-September period of 2023, compared to EGP 1.601 billion in the year-ago period.

Consolidated interest income increased to EGP 8.268 billion in the nine-month period ended September 30th from EGP 4.441 billion during the same period a year earlier.

Moreover, standalone net profit after tax rose to EGP 3.805 billion in the first nine months of 2023 from EGP 1.604 billion in the comparative period of 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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