Arab Finance: Credit Agricole Egypt (CIEB) posted a 32.32% year-on-year (YoY) hike in consolidated profit attributable to the parent company during the first half (H1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The bank’s consolidated profit excluding minority interest grew to EGP 1.015 billion in H1 2022 from EGP 767.096 million the year before.

Consolidated net interest income increased to EGP 1.641 billion in the January-June period from EGP 1.445 billion during the same period a year earlier.

Moreover, standalone net profit after tax rose to EGP 1.019 billion in H1 2022 from EGP 764.373 million in the comparative period in 2021.

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.