Credit Agricole Egypt’s profit rises 32.4% in H1-22

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Cairo – Credit Agricole Egypt has registered consolidated net profits after tax worth EGP 1.01 billion in the first half (H1) of 2022, an annual leap of 32.35% from EGP 767.09 million.

Interest income surged by 9.75% year-on-year (YoY) in H1-22, totalling EGP 2.81 billion, compared to EGP 2.56 billion, according to the financial results on Wednesday.

As for the standalone business, the bank logged standalone net profits after tax of EGP 1.01 billion during the first six months (6M) of 2022, up 33.30% when compared to EGP 764.37 million in the year-ago period.

Meanwhile, the standalone interest income amounted to EGP 2.79 billion during the January-June 2022 period, a yearly rise of 9.73% from EGP 2.54 billion. The standalone earnings per share (EPS) stood at EGP 0.74 in H1-22, versus EGP 0.55 in H1-21.

In the January-March 2022 period, the lender's consolidated net profits after tax enlarged by 29.86% to EGP 491.54 million, compared to EGP 378.52 million in Q1-21.