Cairo – Credit Agricole Egypt recorded a 29.86% year-on-year (YoY) increase in the consolidated net profits to EGP 491.54 million in the January-March period of 2022 from EGP 378.52 million, according to the bank's initial financials.

The bank's interest income rose to EGP 1.36 billion in the first three months (3M) of 2022 from EGP 1.25 billion in the year-ago period.

As for the standalone businesses, the bank's net profits hiked by 30.49% YoY to EGP 486.38 million in Q1-22 from EGP 372.73 million.

It is noteworthy to mention that in 2021, the consolidated net profits of Credit Agricole Egypt rose by 17.35% to EGP 1.61 billion, compared to EGP 1.37 billion in 2020.

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