Cairo – Mubasher: Credit Agricole – Egypt reported a 20.1% year-on-year profit growth during the first half of 2019, according to the bank's unaudited financial indicators.
The lender’s net profits rose to EGP 1.31 billion in the January-June period of 2019, compared to EGP 1.09 billion in the corresponding period a year earlier, according to a filing to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, the bank’s interest income grew to EGP 3.01 billion in the six-month period ended 30 June from EGP 2.6 billion in the year-ago period.
Year-on-year, loans offered to the bank’s customers increased to EGP 24.1 billion in H1-19, compared to 21.58 billion.
On the other hand, the bank’s deposits retreated to EGP 41.93 billion in the January-June period of 2019 from EGP 43.93 billion in the prior-year period.
During the first quarter of 2019, Credit Agricole – Egypt’s profits rose to EGP 693.75 million, compared to EGP 601.47 million in Q1-18.
