Credit Agricole Bank grows by 49.84% on First Bank Composite Growth Index during H1-2023

The separate financial statements of Credit Agricole Bank - Egypt, which ended on June 30, 2023, revealed that the bank recorded a compound growth rate of 49.84% during the first half of Current year.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to June 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 146.26% to record EGP 2.509 bn during H1- 2023, compared to EGP 1.019 bn at the same period 2022, with an increase of EGP 1.490 bn.

Furthermore, the bank's Total asset came in second place with a growth rate of 24.49% during the first half of current year, bringing the total portfolio from EGP 75.112 bn at the end of December 2022 to reach EGP 93.506 bn at the end of June 2023, achieving an increase of EGP 18.394 bn.

In addition, Total customer deposit came in third place, to record EGP 74.988 bn by the end of June 2023, compared to EGP 60.493 bn by the end of 2022, achieving a growth rate of 23.96%, and an increase of EGP 14.495 bn.

The bank's Total customer loans achieved a growth rate of 4.64% to reach EGP 36.626 bn by the end of June 2023, compared to EGP 35.002 bn by the end of 2022، with an increase of EGP 1.624 bn.