Credit Agricole Egypt's profit grows 9.4% in H1-21

The lender's interest income slipped to $16mln

Cairo -  Credit Agricole Egypt recorded consolidated net profits of EGP 767.09 million during the first half (H1) of 2021, up by 9.4% year-on-year (YoY) from EGP 701.02 million.

The lender's interest income slipped to EGP 2.56 billion in the January-June period, compared to EGP 2.6 billion in the corresponding period in 2020, according to a bourse disclosure on Tuesday.

As for standalone business, the bank logged net profits of EGP 764.37 million in H1-21, up from EGP 701.2 million in H1-20.

During the first quarter (Q1) of 2021, the bank posted net profits of EGP 378.52 million, down from EGP 439.96 million in Q1-20.

The interest income retreated to EGP 1.25 billion in the January-March period, compared to EGP 1.36 billion in the year-ago period.

Source: Mubasher

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