Credit Agricole Bank Tops List of Fastest-Growing Listed Banks on First Bank composite index During H1- 2023
First Bank
Credit Agricole Bank-Egypt has ranked first in First Bank composite growth index for listed banks with the highest growth rate during the first Half of 2023, with a composite growth rate of 49.84%.
This growth was driven by a surge in net profits, which increased by 146.26% to record EGP 2.51 bn during the first Half of 2023, compared to EGP 1.02 bn during the same period in 2022, representing an increase of EGP 1.49 bn.
The bank's total assets also increased with a growth rate of 24.49% Recording EGP 93.51 bn at the end of June 2023, compared to EGP 75.39 bn at the end of 2022, reflecting an increase of EGP 18.39 bn.
Furthermore, the bank managed to increase its customer deposits portfolio, reaching EGP 74.99 bn at the end of June 2023, compared to EGP 60.49 bn at the end of 2022, Topping fastest growing listed banks in terms of customer deposits.
Credit Agricole Bank also significantly strengthened its client financing, leading to a substantial increase in its total customer loans, which reached EGP 36.63 bn at the end of June 2023, compared to EGP 35.002 bn at the end of 2022.
