Cairo – Mubasher: Credit Agricole Egypt’s board of director has agreed to write off its debts in accordance with the notes.
The board also decided to reshuffle some of its committees, as well as approved credit requests, the bank highlighted in a filing to the Egyptian Exchange (EGX) on Thursday.
Credit Agricole previously reported a 15.2% year-on-year rise in net profits for the first half of 2018, recording EGP 1.09 billion from EGP 949.03 million.
Revenues from interests grew by 17.4% to EGP 2.6 billion in the six-month period ended June, versus EGP 2.22 billion in H1-17.
Total deposits in the bank amounted to EGP 39.5 billion at the end of June, up from EGP 37.08 billion in the corresponding period a year earlier.
