Cairo – Mubasher: Crédit Agricole France has purchased 60 million shares in Crédit Agricole Egypt on 8 September 2022.
Hence, Crédit Agricole France’s shareholding percentage in Egypt's branch has increased to 52.18% from 47.38%, whilst the group holding, including related parties rose to 65.25% from 60.45%, according to a stock exchange statement on Thursday.
The acquisition transaction testifies Crédit Agricole France's confidence in the development and performance of the Egypt business.
In a separate statement, the Egyptian Exchange (EGX) announced a block trading deal on 60 million of Crédit Agricole Egypt’s shares for EGP 408 million.
Noteworthy to mention, in the first half (H1) of 2022, Crédit Agricole Egypt registered consolidated net profits after tax worth EGP 1.01 billion, an annual leap of 32.35% from EGP 767.09 million.
At the same time, interest income surged by 9.75% annually in H1-22, totalling EGP 2.81 billion, compared to EGP 2.56 billion.
