Crédit Agricole Egypt, 9M 2024 Standalone Financial Results – Press Release
The Board of Directors of Credit Agricole Egypt approved the Bank’s results for the 9 months ended on Sept 30, 2024, at its meeting on Tuesday, November 5, 2024.
Main Highlights
- Net Profit at record EGP 6,060 million, up 59% Year-on-Year;
- Customer Deposits reached EGP 84 billion, up 4% Year-on-Year;
- Gross Loans reached EGP 51.9 billion, up 35% Year-on-Year;
- Current and Saving Accounts to Total Deposits reached 58% up by 4% Year-on-Year;
- Non-Performing Loans ratio at 2.4% and Coverage Ratio at 181.3%;
- Loans-to-Deposit Ratio at 62%, up +14% Year-on-Year driven by robust loan growth;
- Resilient Capital Structure, Capital Adequacy Ratio of 20.05%;
- Return on Average Assets at 7.3% up 1.5% Year-on-Year and Return on Average Equity at 47.4% up 3.4% Year-on-Year;
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