Crédit Agricole Egypt, H1 2024 Standalone Financial Results – Press Release

The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the half-year ended on June 30, 2024, at its meeting on Wednesday, July 31, 2024.

Main Highlights

• Net Profit at record EGP 4,198 million, up 67% Year-on-Year;
• Customer Deposits reached EGP 84.3 billion, up 12% Year-on-Year;
• Gross Loans reached EGP 49 billion, up 34% Year-on-Year;
• Current and Saving Accounts to Total Deposits reached 61% up by 4% Year-on-Year;
• Non-Performing Loans ratio at 1.6% and Coverage Ratio at 269.6%;
• Loans-to-Deposit Ratio at 58%, up +9% Year-on-Year driven by robust loan growth;
• Resilient Capital Structure, Capital Adequacy Ratio of 20%;
• Return on Average Assets at 7.6% up 1.6% Year-on-Year and Return on Average Equity at 53.1% up 7.2% Year-on-Year;

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