Credit Agricole Egypt says loans grew 12.6% in June

Crédit Agricole Egypt says loans and advances grew by 12.6 percent to 22.8 billion Egyptian pounds ($1.4 billion) at the end of June from 20.2 billion pounds at the end of December 2018.

Personal loans increased to 6.188 billion pounds in June compared to 5.829 billion pounds at the end of December 2018.

Mortgage loans also rose to 12.773 million pounds versus 10.639 million pounds in December, while syndicated loans stood at 3.337 billion pounds from 3.192 billion pounds.

On the other hand, customers’ deposits fell 4.6 percent to 41.933 billion pounds from 43.934 billion pounds in December last year.

Net profit surged to 1.310 billion pounds in the first six months of 2019 versus 1.094 billion pounds at the end of 2018.