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Crédit Agricole Egypt, 9m 2023 Standalone Financial Results

The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the 9 months ended on September 30, 2023, at its meeting on Thursday, November 09, 2023.

Main Highlights

  • Net Profit at record EGP 3,806 million, up 137% Year-on-Year;
  • Customer Deposits reached EGP 80.8 billion, up 50% Year-on-Year;
  • Gross Loans reached EGP 38.5 billion, up 10% Year-on-Year;
  • Current and Saving Accounts to Total Deposits reached 54.8% down by 118 bps Year-on-Year;
  • Non-performing Loans ratio at 2.5% and Coverage Ratio at 166%;
  • Loans-to-Deposit Ratio at 48%, down 17% Year-on-Year driven by high increase in deposits vis-à-vis loans and EGP devaluation effect;
  • Resilient Capital Structure, Capital Adequacy ratio of 18.81%;
  • Return on Average Assets at 5.8% up 2% and Return on Average Equity at 44.0% up 20%;

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