Cairo – Mubasher: Credit Agricole – Egypt posted on Sunday a rise of 37.3% in its profits for the fourth quarter of the fiscal year 2016 to EGP 397 million, compared to EGP 289 million for Q4-15.
The bank’s consolidated profits for the fiscal year 2016 grew 29.8% to EGP 1.35 billion from EGP 1.04 billion for fiscal 2016, while the standalone profits increased 32% to EGP 1.366 billion from EGP 1.035 billion.
Consolidated interest income rose in 2016 by 24.2% to EGP 3.34 billion from EGP 2.69 billion for 2015, according to a bourse filing.
The bank said that the floatation of the Egyptian pound led to a 55% fall in the net income before tax.
