Credit Agricole’s net profits Jump by 113%, recording EGP 5.142 bn during 2023
First Bank
According to the bank's business results for the year ended December 31th 2023. reveled Credit Agricole’s Egypt's net profits increased by 112.57%, to record EGP 5.142 bn during 2023, compared to EGP 2.419 bn during 2022, achieving an increase of EGP 3.277 bn.
the bank's pre-tax profits surged by 108.43%, reaching EGP 6.889 bn by during 2023, compared to EGP 3.305 At 2022, an increase of EGP 3.584 bn.
In terms of earnings per share, the bank recorded a growth rate of 112.6% during the last year, with the bank's share of net profits reaching about EGP 3.70 per share in 2023, compared to EGP 1.74 during 2022.
Concerning the bank’s financial position, The bank’s total deposits grew by a rate of 39.15%, with an increase of EGP 23.682 bn by 2023 End, reaching EGP 84.175 bn by the end of December 2023, compared to EGP 60.493 bn by the end of 2022.
Total loans increased by 22%, amounting to EGP 42.706 bn by end of 2023 compared to EGP 35.005 bn by the end of December 2022. an increase of EGP 7.701 bn.
Moreover, total equity of the bank increased by 46.02% during the last year, reaching EGP 14.493 bn by the end of December 2023, compared to EGP9.925bn by the end of December 2022.
bank's total reserves declined by 18.41% during the last year, reaching EGP 816.9 mn by the end of December 2023, compared to EGP 1.00 bn by the end of December 2022.
