Crédit Agricole Egypt, 12M 2023 Standalone Financial Results – Press Release
The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the 12 months ended on December
31, 2023, at its meeting on Tuesday, February 06, 2024.
Main Highlights
- Net Profit at record EGP 5,142 million, up 113% Year-on-Year;
- Customer Deposits reached EGP 84.2 billion, up 39% Year-on-Year;
- Gross Loans reached EGP 42.8 billion, up 22% Year-on-Year;
- Current and Saving Accounts to Total Deposits reached 54.1% down by 5.35% Year-on-Year;
- Non-performing Loans ratio at 3.1% and Coverage Ratio at 133%;
- Loans-to-Deposit Ratio at 51%, down -7% Year-on-Year driven by high increase in deposits vis-à-vis loans
and EGP devaluation effect;
- Resilient Capital Structure, Capital Adequacy ratio of 18.5%;
- Return on Average Assets at 5.7% up 2% and Return on Average Equity at 42.1% up 16%
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