Credit Agricole's net profit grows by 87.6%, records EGP2.29 bn during Q1-2024
First Bank
The separate financial statements of Credit Agricole Bank – Egypt, which ended on March 31, 2024, revealed an increase in the bank’s net profits, at a growth rate of 87.6%, to record EGP 2.291 bn during the first quarter of 2024, compared to EGP 1.221 bn during the first quarter of 2023, with an increase of EGP 1.070bn.
Pre-taxes profits increased by a growth rate of 88.25%, to record EGP3.029 bn during the first quarter of 2024, compared to EGP1.609 bn during the same period, with an increase of EGP 1.420bn.
Concerning the bank’s financial position, The bank’s total Assets grew by a rate of 4.11%, with an increase of EGP 4.356bn by March 2024 End, reaching EGP 110.35 bn by the end of March 2024, compared to EGP 106 bn by the end of December 2023.
While the bank's total loans increased by a growth rate of 6.86% during the first quarter of this year, to reach EGP 45.64 bn at the end of March 2024, compared to EGP 42.71 bn at the end of December 2023.
Total customer deposits increased by a growth rate of 0.23%, to record EGP 84.37 bn at the end of March 2024, compared to EGP 84.18 bn at the end of December 2023.
