Credit Agricole growth slow-down to 35.4% during Q3-2023
First Bank
Credit Agricole Bank's growth slow-down during the third quarter of 2023, recording a compound growth rate of 35.4%, compared to 41.03% during Q2-2023.
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 Q3-2023.
Despite the slow-down in growth, 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 which formulated First Bank composite growth index, recorded a growth rate of 121.4% during Q3-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 5.19% during Q3-2023, and an increase in both asset and deposit portfolios by 7.35% and 7.69%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q2-2023 to achieve a growth rate of 141.9% during the period from April to June 2023.
In addition, The bank’s Total loan portfolio increased by 1.80% during Q2-2023, asset as well as deposit portfolios increased by 9.95% and 10.5%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
