Credit Agricole Bank’s Loans to Deposit ratio declined to 47.7% by Sep- 2023end
First Bank
The financial statements of credit Agricole Bank, which ended on September 30 of the previous year, revealed a decline in the loans to deposits ratio, recording 47.7% by the end of September 2023, compared to 57.86% by the end of December 2022.
Despite that, the bank experienced development in its key indicators, with the deposit portfolio growing at a rate of 33.5%, reaching a value increase of EGP 20.3 bn in the first 9 months of the last year, totaling EGP 80.76 bn by the end of September 2023, compared to EGP 60.49 bn by the end of December 2022.
The bank increased credit issuance to its clients by approximately EGP 3.53 bn during the first 9 months of the last year, with the total loan and facilitation for clients growing at a rate of 10.1%, reaching EGP 38.5 bn by the end of September 2023, compared to EGP35 bn by the end of December 2022.
On the financial position front, the bank achieved a growth rate of 33.6%, with an increase of EGP 25.27 bn in the first 9M-2023, recording total assets of EGP 100.38 bn by the end of September 2023, compared to EGP 75.11 bn by the end of December 2022.
