Credit Agricole Bank grows by 44.75% On First bank Composite Growth Index during Q1-2023

Credit Agricole bank recorded a composite growth rate of 151.02% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio during Q1-2023, according to its latest separate financial results.

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 Q1- 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 44.75% to record EGP 1.221 bn during Q1 2023, compared to EGP 486.380 mn at the same period 2022 with an increase of EGP 734.798 mn.

In addition, the bank's Total asset portfolio came in second place to record EGP 85.041 bn by the end of March 2023, compared to EGP 75.112 bn by the end of 2022, achieving a growth rate of 13.22%, and an increase of EGP 9.929 bn.

Furthermore, The bank's Total customer loans achieved a growth rate of 2.54% to reach EGP 35.979 bn by the end of March 2023, compared to EGP 35.088 bn by the end of 2022،with an increase of EGP 891.042 mn

The bank's deposit portfolio jumped by 12.18% to record EGP 67.861 bn by the end of March 2023, compared to EGP 60.492 bn by the end of 2022، with an increase of EGP 7.369 bn