Credit Agricole Egypt generated consolidated net profits after tax valued at EGP 1.785 billion in the first quarter (Q1) of 2026, down 4.41% year-on-year (YoY) from EGP 1.868 billion, according to the financial results.

Earnings per share (EPS) declined to EGP 1.27 in the first three months of 2026 from EGP 1.33 a year earlier. Meanwhile, net interest income climbed to EGP 2.877 billion from EGP 2.809 billion.

As for the standalone results, net profits fell to EGP 1.801 billion in Q1 2026 from EGP 1.869 billion in Q1 2025, while the EPS retreated to EGP 1.28 from EGP 1.33.

Standalone net interest income reached EGP 2.862 billion at the end of March 2026, versus EGP 2.800 billion in the year-ago period.

As per an emailed press release, the bank's net banking income (NBI) rose 6% YoY in Q1 2026 to EGP 3.616 billion, supported by higher net interest income and a sharp increase in other operating income.

Operating expenses climbed 15% YoY, in line with inflationary pressures and a tight labor market, including the impact of minimum wage adjustments. As a result, the cost-to-income ratio rose to 26.8% from 24.8% a year earlier, reflecting a normalization trend.

Gross operating income increased 4% YoY to EGP 2.645 billion. Cost of risk came in higher but normalized at EGP 230 million in Q1 2026, compared to EGP 85 million in the same period last year, driven by increased volumes and a normalization in retail risk levels.

On a sequential basis, NBI rose 8% quarter-on-quarter, while gross operating income increased 6%. Growth was driven by a 4% rise in net interest income despite competitive pricing conditions, and a 72% jump in other operating income, primarily FX-related.

Operating expenses increased 13% quarter-on-quarter, while net profit declined 1%.

In 2025, Credit Agricole Egypt reported a solid financial performance, with a consolidated net profit after tax of EGP 6.960 billion.

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