EGX-listed Credit Agricole reported a 2.9% year‑on‑year decline in net profit to EGP 1.80 billion ($33.6 million) in Q1, 2026, as higher credit impairment charges and a heavier tax burden offset steady growth in core banking income.

Core earnings remained resilient, with net interest income (NII) rising 2.2% YoY to EGP 2.86 billion ($53.3 million), supported by balance‑sheet expansion and sustained yields on interest‑earning assets.

Meanwhile, net fees and commission income was broadly flat YoY at EGP EGP 404 million ($ 7.5 million).

The bank’s impairment charge for expected credit losses surged 79.5% YoY to EGP 192 million  ($ 3.58 million).

(Writing by Ahmad Mousa; editing by Daniel Luiz) ahmad.mousa@lseg.com