Cairo – Mubasher: Crédit Agricole Egypt registered consolidated net profits after tax worth EGP 1.22 billion in the first quarter (Q1) of 2023, a year-on-year (YoY) growth of 148.96% from EGP 491.54 million.
The interest income increased by 68.51% to EGP 2.30 billion in Q1-23 from EGP 1.36 billion in Q1-22, according to the consolidated income statement.
Customer deposits rose by 12.15% annually to hit EGP 67.84 billion during the first three months (3M) of 2023 from EGP 60.49 billion.
Standalone Business
Crédit Agricole Egypt also achieved an increase of 151.07% in its non-consolidated net profit after tax to EGP 1.221 billion, compared with EGP 486.38 million.
The earnings per share (EPS) soared by 151.43% to EGP 0.88 at the end of March 2023 from EGP 0.35 a year earlier.
The lender’s interest income jumped by 69% YoY to EGP 2.28 billion during January-March 2023 from EGP 1.35 billion.
Customer deposits amounted to EGP 67.86 billion in Q1-23, a 12.18% rise from EGP 60.49 billion in Q1-22.
In 2022, Crédit Agricole Egypt announced higher consolidated and separate net profits after tax worth EGP 2.41 billion.
