Crédit Agricole Egypt says profit falls 41.9% in 2020

Crédit Agricole Egypt, part of France’s second-largest bank Crédit Agricole, reported on Wednesday a 41.9 percent year-on-year drop in full-year profit for 2020.

Net profit recorded 1.37 billion Egyptian pounds ($87.7 million) in 2020, compared with 2.36 billion pounds in 2019, the bank added in a bourse filling.

Revenue also fell to 5.17 billion pounds from 5.96 billion pounds a year earlier.