Credit Agricole bank leads Listed banks in Return On average Assets during H1- 2023
First Bank
Credit Agricole Bank-Egypt topped First Bank list of the most efficient Listed banks in investing its assets (Return On average Assets) during H1- 2023, at a rate of 2.98%, thus maintaining its lead, as it also previously occupied the first place on the same list, but during 2022.
Credit Agricole Bank was able to achieve strong profit levels, as the bank’s net profit jumped 146.26%, to record EGP 2.51 bn During H1- 2023, compared to EGP 1.01 bn during same period of 2022, with an increase of EGP 1.490 Bn.
Analyzing the geographic sectors of the bank's net profits, we find that Greater Cairo was the most successful in generating net profits during the current year. The bank's Net profits from Greater Cairo amounted to EGP 2.36 bn during the first Half of 2023, compared to EGP 952.13 mn during the same period in 2022, achieving a growth rate of 148% and an increase of EGP 1.41 bn.
The bank managed to increase its profits from branches located in the Alexandria, Delta, and Sinai sectors by 192.09%, reaching EGP 108.91 mn during the first Half of 2023, compared to EGP 37.29 mn during the same period in 2022, with an increase of EGP 71.62 mn.
Meanwhile, net profits from the Upper Egypt regions, increased with a growth rate of 32.03% to record EGP 38.89 mn during the first half of 2023, compared to EGP 29.46 mn during the same period in 2022, with an increase of EGP 9.44 mn.
Overall, the bank’s asset portfolio Surged to 24.49%, Recording EGP 93.51 bn by June 2023 End, compared to EGP 75.11 bn by the end of 2022, an increase of EGP 18.39 bn
While deposit portfolio increased to EGP 74.99bn By June-2023End compared to EGP 60.49 bn at the end of 2022, achieving a growth rate of 23.96%, and an increase of EGP 14.5 bn.
Bank's Total customer loan portfolio rose with a growth rate of 4.64% recording EGP36.626bn By June 2023End compared to EGP 35.002 Bn at the end of 2022, with an increase of EGP1.624bn.
