Crédit Agricole Egypt, H1 2023 Standalone Financial Results – Press Release
The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the first half ended on June 30,
2023, at its meeting on Tuesday, August 1, 2023.
Main Highlights
- Net Profit at record EGP 2,509 million, up 146% Year-on-Year;
- Customer Deposits reached EGP 75 billion, up 53% Year-on-Year;
- Gross Loans reached EGP 36.7 billion, up 10% Year-on-Year;
- Current and Saving Accounts to Total Deposits reached 57.4% up by 268 bps Year-on-Year;
- Non-performing Loans ratio at 2.66% and Coverage Ratio at 156.7%;
- Loans-to-Deposit Ratio at 49%, down 19% Year-on-Year driven by high increase in deposits vis-à-vis
- loans and EGP devaluation effect;
- Resilient Capital Structure, Capital Adequacy ratio of 19.09%;
- Return on Average Assets at 6.0% up 3% and Return on Average Equity at 45.9% up 22%;
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