Credit Agricole's net profit jumps by 151%, records EGP1.22 bn during Q1-2023

The unaudited separate financial statements of Credit Agricole Bank – Egypt, which ended on March 31, 2023, revealed an increase in the bank’s net profits, at a growth rate of 151.07%, to record EGP 1.221 bn during the first quarter of 2023, compared to EGP 486.38 mn during the first quarter of 2022.

Pre-taxes profits increased by a growth rate of 141.53%, to record EGP1.609 bn during the first quarter of 2023, compared to EGP666.010 mn during the same period of the previous year.

Interest income increased by a growth rate of 69%, to record EGP 2.289 bn during the first quarter of 2023, compared to EGP 1.354 bn during the first quarter of 2022, while basic earnings per share increased during the first quarter of this year, with a growth rate of 151.43% during the same period.

At the level of the bank’s separate financial position list, total customer deposits increased by a growth rate of 12.18%, to record EGP 67.862 bn at the end of March 2023, compared to EGP 60.493 bn at the end of December 2022.

While the bank's total loans increased by a growth rate of 2.56% during the first quarter of this year, to reach EGP 35.990 bn at the end of March 2023, compared to EGP 35.092 bn at the end of December 2022.

Total shareholders' Equity increased by a growth rate of 6.15% during the first quarter of this year, to record EGP 10.535 bn at the end of March 2023, compared to EGP 9.925 bn at the end of December 2022.