Jean-Pierre Trinelle leads digital transformation file of Credit Agricole Bank to outstanding performance

Credit Agricole-Egypt has been able to achieve strong performance over the past 16 years, as Credit Agricole is committed to blending its global and local expertise to serve its clients, as part of the bank's strategy that aims to achieve sustainability through innovation.

Since Jean-Pierre Trennell assumed the position of managing director of the bank in early 2021, he achieved a lot, especially in the digital transformation file.

2022 witnessed the launch of a number of services, including Banki Chat service based on special educational algorithms, and also the launch of Banki Connect, which allows corporate clients to automate payments on a larger scale.

He also launched Commerce Bank to  electronic payments, and this service was widely accepted, as it received, by the end of 2022, total payments reached EGP 33 mn, in addition to the implementation of 27.5 thousand e-commerce transactions.

The bank obtained 2 awards for the second year in a row, including the award for the best mobile banking application in Egypt from Global Finance magazine.

By analyzing the investment thinking of Trinelle, we found that he continued to have a great tendency to employ the bank’s money in granting loans, despite the decline that occurred during the past 2 years, but it is still the first trend for the bank.

Loans constitute the highest relative weight of the bank’s total assets currently, as their relative share reached 43.70% at the end of 2022, compared to 49.18% at the end of 2020.

Credit Agricole's tendency towards financial investments declined, to record 25.45% of the bank's total assets by the end of 2022, compared to 26.11% by the end of 2020.

Loans to deposits ratio, declined significantly to 56.87% at the end of 2022, compared to 65.11% at the end of 2020.

In terms of the bank’s tendencies towards employing deposits in financial investments, increased to 21.90% at the end of 2022, compared to 17.86% at the end of 2020.

 Moreover, The bank's financial position jumped by 45.18%, to reach EGP75.11 bn by the end of 2022, compared to EGP51.74 bn by the end of 2020.

Total loans jumped from EGP26.86 bn at the end of 2020, to EGP34.4 bn at the end of 2022, an increase of EGP7.54 bn.

The bank’s deposit portfolio increased by 46.64%, to reach EGP60.49 bn by the end of 2022, compared to EGP41.25 bn by the end of 2020.

The bank's net profit jumped 77.16%, to record EGP2.42 bn in 2022, compared to EGP1.37 bn in 2020, an increase of EGP 1.05 bn.

Total financial investments increased from EGP 7.37 bn at the end of 2020 to EGP 13.25 bn at the end of 2022, with a growth rate of 79.80%.

While The bank's asset portfolio reached EGP 23.38 bn during the past 2 years, did not succeed in increasing its share in the asset market, as it declined to 0.66% of the total assets of the banking sector by the end of 2022, compared to 0.74% by the end of 2020.

Its share in the loan market also declined to 0.86% of total banking sector loans at the end of 2022, compared to 1.09% at the end of 2020.

The bank lost about 0.09% of its total share in the deposit market, to reach 0.71% of the total banking sector deposits by the end of 2022, compared to 0.79% by the end of 2020.