Cairo – Mubasher: Beltone Financial set the fair value of Credit Agricole Bank at EGP 45.88, with a "Buy" recommendation.
The bank’s return on equity ratio (ROE) increased in 2016 to 33% from 29% in 2015, making Credit Agricole the most profitable bank among banks covered by Beltone, according to a report.
Credit Agricole’s profits rose in the fourth quarter of fiscal year 2016 by 37.3% to EGP 397 million.
Beltone said that profits for Q4-16 were backed by a year-on-year increase of 50% and quarter-on-quarter rise of 19% in the net interest income.
