Credit Agricole's net profit soars by 51.9%, records EGP 2.419 bn at 2022

The separated-unaudited-financial statements of Crédit Agricole Egypt, which ended on December 31, 2022, revealed an increase in the bank’s net profits after tax, with a growth rate of 51.91% during the past year, with an increase of EGP 826.7 million over the profits of the previous year.

The bank's net profit recorded EGP 2.419 billion in 2022, compared to EGP 1.592 billion in 2021.

Pretax Profits also increased by 49.46% over the past year, to record EGP 3.305 billion in 2022, compared to EGP 2.211 billion during the previous year.

Interest income increased by 21.67% over the past year, to record EGP 6.275 billion in 2022, compared to EGP 5.157 billion in 2021.

The basic earnings per share increased during the past year at a growth rate of 50%, to record (1.74) in 2022, compared to (1.16) in 2021.

In terms of the bank’s separated financial position list, the bank’s total customer deposits increased by 25.46% over the past year, to record EGP 60.493 billion at the end of December 2022, compared to EGP 48.216 billion at the end of December 2021.

Total bank customers loans also increased by a growth rate of 13.45% over the past year, to record EGP 35.092 billion at the end of December 2022, compared to EGP 30.931 billion at the end of December 2021.

Equity also increased by 14.49% over the past year, to record EGP 9.925 billion at the end of December 2022, compared to EGP 8.669 billion at the end of December 2021.

The total reserves of the bank increased by a growth rate of 14.91% over the past year, to reach 1.001 billion pounds at the end of December 2022, compared to 871.2 million pounds at the end of December 2021.

Retained earnings increased by 24.85% over the past year, to record EGP 1.505 billion at the end of December 2022, compared to EGP 1.205 billion at the end of December 2021