Crédit Agricole-Egypt, Fastest-growing bank in corporate deposits in Q1-2023
First Bank
Crédit Agricole bank-Egypt has topped the list of First Bank as the fastest-growing bank in terms of corporate deposit during the first quarter of the current year, with a growth rate of 21.16%. Its portfolio reached EGP 43.9 bn at the end of March 2023, compared to EGP 36.2 bn at the end of 2022.
This contributed to an overall increase of its deposit portfolio by 12.18%, reaching EGP 67.86 bn at the end of March 2023, compared to EGP 60.49 bn at the end of 2022, an increase of EGP 7.37 bn.
In general, Crédit Agricole bank achieved a good performance during the first 3 months of the current year, with a net profit jump of around 151.07%, recording EGP 1.221 bn in the first quarter of 2023, compared to EGP 486.38 mn in the same period of 2022, an increase of EGP 734.8 mn.
The bank's asset portfolio also increased by 13.22%, reaching EGP 85.04 bn at the end of March 2023, compared to EGP 75.11 bn at the end of 2022, an increase of EGP 9.93 bn.
Total loans to the bank's customers increased by 2.54%, reaching EGP 35.98 bn at the end of March 2023, compared to EGP 35.09 bn at the end of 2022, an increase of EGP 891.04 mn.
