Credit Agricole Bank growth accelerates by 28.74% during Q4-22

Credit Agricole Bank’s growth accelerates during the Q4 of 2022 recording a compound growth rate of 28.74%, compared to 16.78% during Q3-2022. This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2022.

Credit Agricole Bank recorded a composite growth rate of in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio during Q4-2022.

Credit Agricole Bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit that has seen a record growth rate of 91.62% during Q4-2022.

bank’s total loans and facilities to customers declined by 1.13% during Q4-2022 while an increase in both assets and deposits portfolios by 11.85% and 12.61% respectively. The bank’s net profits has also seen an increase in First Bank composite growth index during Q3-22, it achieved a growth rate of 45.33%.

Moreover, total customer loans have increased slightly by 4.35% during Q3-22. The assets as well as deposits portfolios increased by 8.06% and 9.38%, respectively.

It should be noted that all the figures used in calculating the growth rates included in the analysis are according to separate financial statements, on the official website of the bank.