Credit Agricole Leads Egyptian Banks In terms of ROA during 9M-22

Credit Agricole Bank topped the First Bank list of most efficient banks in terms of investing its assets during the first 9 months of 2022, with Return on Assets of 2.52% achieving better levels of profitability.

The bank’s net profit jumped by 37.45%, to record 1.6 billion pounds during the first 9 months of 2022, compared to 1.17 billion pounds during the same period in 2021, an increase of 437.14 million pounds.

Net profits from Corporates jumped by 138.22%, to record 625.38 million pounds during the first 9 months of 2022, compared to 262.52 million pounds during the same period in 2021, an increase of 362.86 million pounds.

Net profits from medium and small enterprises increased from EGP 98.06m during the first 9 months of 2021 to EGP 154.72m during the same period of 2022, achieving a growth rate of 57.79%, and an increase of 56.67million pounds.

 Net profits from individuals increased by 20.29%, to record 438.88 million pounds during the first 9 months of 2022, compared to 364.84 million pounds during the same period in 2021, an increase of 74.04 million pounds.

However, Credit Agricole's net profit from investment declined to 35.04 million pounds during the first 9 months of last year, compared to 51.01 million pounds during the same period of 2021.

Net profits from asset and liabilities also declined by 10.35%, to record EGP 350.44m during the first 9 months of 2022, compared to EGP 390.89m during the same period of 2021.