Credit Agricole bank leads Egyptian banks in Return On Assets in 2022

Credit Agricole Bank topped First Bank list of the most efficient Egyptian banks in investing its assets during 2022, at a rate of 3.58%, thus maintaining its lead, as it also previously occupied the first place on the same list, but during the first 9 months of 2022.

Credit Agricole was able to achieve strong profit levels, as the bank’s net profit jumped 51.91%, to record EGP 2.42 bn in 2022, compared to EGP 1.59 bn in 2021, an increase of EGP 826.66 mn.

Turning to the details of the net profits of Credit Agricole, we find that its profits through large institutions were a major player in this achieved growth, as its net profits jumped by 200.04%, recording EGP 1.07 bn during 2022, compared to EGP357.51 mn during 2021, an increase of EGP715.17 mn.

While the bank’s net profits from individuals jumped by 27.10%, to reach EGP 645.66 mn in 2022, compared to EGP508 mn in 2021, an increase of EGP 137.65 mn.

Its net profits from MSEs rose to EGP 253.9 mn in 2022, compared to EGP 148.01 mn in 2021, achieving a growth rate of 71.54%, and an increase of EGP105.9 mn.

Meanwhile, Net profits from Asset and Liabilities decreased to EGP393.09 mn in 2022, compared to EGP511.1 mn in 2021, bringing the rate of decline to 23.09% on an annual basis.

The bank’s net profit from investment also decreased by 20.68%, to record EGP53.81 mn in 2022, compared to EGP 67.84 mn in 2021.