Credit Agricole grows by 22.51% on First Bank composite growth index during H1- 2024

The Separate financial statements of Crédit Agricole - Egypt, which ended on June 30st of the current year, revealed that the bank achieved a composite growth rate of 22.51% during the period from January to June 2024.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, all during H1-2024

Crédit Agricole - Egypt managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 67.32%, recording EGP 4.198 bn during H1- 2023, compared to EGP 2.509 bn in the same period in 2023, an increase of EGP1.68bn.

Total loan portfolio and credit facilities at the bank were the second contributor to this growth, it grew with a growth rate of 14.85%, during H1-2024 reaching EGP 49.047 bn by the end of June 2024, compared to EGP 42.71bn at the end of December 2023, an increase of EGP 6.34bn.

Total Asset portfolio at the bank was the third contributor to the growth of Crédit Agricole rose by 87.87% and an increase of approximately EGP 8.22 bn during H1 -2024, to record EGP 114.217 bn by the end of June 2024, compared to EGP 105.99 bn at the end of December 2023.