Cairo –  Credit Agricole - Egypt reported a 44.4% year-on-year (YoY) decline in its net profits, logging EGP 1.036 billion in the first nine months of 2020, compared to EGP 1.86 billion, the unaudited consolidated financial results showed.

The lender’s interest income slid to EGP 3.88 billion in the January-September period from EGP 4.55 billion in the year-ago period, according to a bourse disclosure on Sunday.

In addition, the bank posted standalone net profits of EGP 1.03 billion in the nine-month period ended 30 September from EGP 1.86 billion in the corresponding period a year earlier.

During the first half (H1) of 2020, Credit Agricole achieved net profits of EGP 701.01 million, down from EGP 1.304 billion in H1-19.

Source: Mubasher

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