Credit Agricole Egypt net income jumps 113.6% in ’23

Credit Agricole Egypt reported a 113.6 per cent year-on-year growth in its consolidated net income after tax for 2023, the bank said in a bourse filing on Wednesday.

Net income after tax recorded 5.16 billion Egyptian pounds ($167.2 million) at the end of December 2023.

Deposits also rose by 39.15 per cent year-on-year to 84.2 billion pounds at the end of December 2023, compared to 60.5 billion in December 2022. Interest income surged by 88.8 per cent to 11.9 billion pounds, from 6.3 billion pounds.