Credit Agricole Egypt: Consolidated Profits Hit EGP517mln by Sept-End

Credit Agricole Egypt has attainted consolidated profits worthegp516.9milllion at the end of the third quarter of this year, move up by 38.08%(EGP145.2million), against EGP371.6million at the end of the third quarter of 2012.

While the stand-alone profits reached around EGP531million at the end of September, the total deposit portfolio recorded about EGP23.4billion at the end of the third quarter of 2013, move up by 2.75%(EGP626.01million), against EGP22.8 billion at the end of the last year.

The Financial statements of the bank revealed that the loan portfolio of the bank surged by 1.18%(EGP151.4million) to record EGP12.9billion at the end of September 2013, compared to EGP12.78billion at the end of December 2012.

The Bank’s board of directors has approved during a meeting at the end of last October’s Budget for the year 2014.