Crédit Agricole Egypt’s consolidated profits surpass $165mln in 2023

Crédit Agricole Egypt’s consolidated profits surpass $165mln in 2023

Cairo – Crédit Agricole Egypt registered consolidated net income after tax worth EGP 5.16 billion in 2023, marking a 113.68% leap from EGP 2.41 billion in 2022.

The lender posted 88.80% year-on-year (YoY) higher net interest income at EGP 11.95 billion as of 31 December 2023, compared to EGP 6.33 billion. according to the financial results.

Deposits amounted to EGP 84.17 billion in 2023, an annual rise of 39.15% from EGP 60.49 billion.

Standalone Results

In the 12-month period that ended on 31 December 2023, the net profits after tax hiked by 112.57% YoY to EGP 5.14 billion from EGP 2.41 billion.

Non-consolidated interest income hit EGP 11.90 billion last year, higher by 89.66% than EGP 6.27 billion in 2022.

Earnings per share (EPS) stood at EGP 3.70 in 2023, up 112.64% from EGP 1.74 in 2022.

During the first nine months (9M) of 2023, Crédit Agricole Egypt achieved a 138.05% YoY surge in consolidated net profit after tax to EGP 3.81 billion, compared to EGP 1.60 billion.

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