Crédit Agricole 2016 net profit after tax climbs 32% in Egypt

Crédit Agricole SA says net profit after tax in Egypt for 2016 rose 32 percent y-o-y to record 1.37 billion Egyptian pounds ($86.7 million).

Earlier, the French bank in Egypt posted a net profit after tax worth 1.04 billion pounds during 2015.

Deposits also surged 46.8 percent to reach 39.15 billion pounds; whereas loans climbed 30.8 percent to record 19.2 billion pounds, the bank’s financial statements showed.

Established in 2006, Crédit Agricole Egypt has become an active player in Egypt’s financial industry offering a wide range of innovative and convenient products to its clients across the entire spectrum: Corporate, SMEs and individuals.