Crédit Agricole Egypt, Q1 2023 Standalone Financial Results – Press Release

The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the quarter ended on March 31, 2023, at its meeting on Thursday, May 11, 2023.

MAIN HIGHLIGHTS

• Net Profit of EGP 1,221 million, up 151% Year-on-Year;
• Customer Deposits reached EGP 67.9 billion, up 39% Year-on-Year;
• Gross Loans reached EGP 36.0 billion, up 12% Year-on-Year;
• Current and Saving accounts to Total Deposits reached 63.7% up by 1281 bps Year-on-Year;
• Good and Resilient quality of assets, Non-performing Loans ratio at 2.8%;
• Loans-to-Deposit Ratio at 53% down 12% Year-on-Year driven by increase in deposits and EGP devaluation;
• Resilient capital structure, Capital Adequacy ratio of 19.72%;
• Return on Average Assets of 6.1% and Return on Average Equity of 47.7%;