Credit Agricole Egypt H1 Net Profits rise by 55.7%

Credit Agricole-Egypt’s net profits registered an increase of 55.7% within the first half of 2015, bank’s business results showed.

The results stated that the net profits recorded 482.99 million Egyptian pounds (US$ 39.5 million) in the first half of 2015 versus 310.22 million Egyptian pounds at the same period of 2014.

The statement added that the Net interest margin (NIM) reached EGP 755.98 million within the first half of 2015 opposed to EGP571.64 million, marking 32.24% growth.

Clients’ deposits hit 27.139 billion Egyptian pounds at the end of June 2015 registering 2% increase while the bank’s loans boosted by 10.4% to record EGP 14.384 billion, the business results revealed.

Credit Agricole’s consolidated profits hit EGP 478.32 million at the end of June 2015 making 57.6% growth in comparison to EGP 303.44 million at the same period of 2014.

The lender posted net profits of EGP 236.2 million for the first quarter of 2015, compared with EGP 147.6 million for the corresponding period of the previous year.

Credit Agricole is capitalised at EGP 1.148 billion, distributed across 287 million shares at EGP 4 par value each.