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Frequently Asked Questions

How many free accesses am I entitled to as a primary cardholder? Unlimited free access throughout the calendar year How many free accesses am I entitled to as a supplementary cardholder? Unlimited free access throughout the calendar year Is there a minimum card spend I shall make during the year, to qualify me for the free lounge accesses? Yes, $1 per calendar year. In case, cardholder did not meet the minimum spend criteria of $1 during the calendar year, he/she will be entitled to only 2 free access+ 1 free guest per visit. How do I enter the lounges? Present your membership QR code to the lounge staff Are guests allowed in the lounges for primary credit card holders?
  • Yes, guests are allowed provided they are accompanying the cardholder on the same flight.
  • 1 free guest per visit but any extra guest(s) card will be charged by $32 each (to be paid at the lounge)
Are guests allowed in the lounges for supplementary credit card holders?
  • Yes, guests are allowed provided they are accompanying the cardholder on the same flight.
  • 1 free guest per visit but any extra guest(s) card will be charged by $32 each (to be paid at the lounge)
How will my guest get access to the lounge? With the same QR or Digital membership generated by the Primary OR Supplementary cardholders. Can I use my physical card to enter the lounge? You will only be able to access lounges by presenting your membership QR code from the mobile app. Do I have to book the lounge access ahead of my visit? No prior reservation is required How can I submit a complaint or an inquiry?
  • In case of prior registration press “Help” button placed on the signing up page in “Visa Companion Application”
  • In case of after registration press “Contact” button placed on the account page.
How can I add more cards? By pressing the “Membership” in the home page bottom menu. Then press on “Add new membership” and start registering the other card.

  • Here’s how to register using your Card or T-Pin

    • Register using your Active Card: Click Here

    • Register using your Bank ID# and Telephone PIN : Click Here

No worries, click here to retrieve your password

How many free accesses am I entitled to as a primary cardholder? 6 free access throughout the calendar year, then every extra visit will be charged by $32 (it will be debited from the registered credit card) How many free accesses am I entitled to as a supplementary cardholder? 6 free access throughout the calendar year, then every extra visit will be charged by $32 (it will be debited from the registered credit card) Is there a minimum card spend I shall make during the year, to qualify me for the free lounge accesses? No minimum spend required How do I enter the lounges? Present your membership QR code to the lounge staff Are guests allowed in the lounges for primary credit card holders?
  • Yes, guests are allowed provided they are accompanying the cardholder on the same flight.
  • Each guest will be charged by $32 per visit (to be paid at the lounge)
Are guests allowed in the lounges for supplementary credit card holders?
  • Yes, guests are allowed provided they are accompanying the cardholder on the same flight.
  • Each guest will be charged by $32 per visit (to be paid at the lounge)
How will my guest get access to the lounge? With the same QR or Digital membership generated by the Primary OR Supplementary cardholders. Can I use my physical card to enter the lounge? You will only be able to access lounges by presenting your membership QR code from the mobile app. Do I have to book the lounge access ahead of my visit? No prior reservation is required How can I submit a complaint or an inquiry?
  • In case of prior registration press “Help” button placed on the signing up page in “Visa Companion Application”
  • In case of after registration press “Contact” button placed on the account page.
How can I add more cards? By pressing the “Membership” in the home page bottom menu. Then press on “Add new membership” and start registering the other card.

  • No worries, click here to retrieve your username
Access all questions

PRESS RELEASE – Q4 - 2016 RESULTS

Crédit Agricole Egypt continues to achieve remarkable results
And sustained commercial momentum in 2016

Highlights on 2016 results:

  • Strong growth in Net Income at 32.0% compared to 2015, reaching EGP1,366.9 million
  • Buoyant business momentum in On-balance sheet deposits up by 46.8% compared to end-2015 (10.2% without EGP devaluation effect) reaching EGP39,153.4million
  • Sharp growth in lending, 30.8% (-0.4% without EGP devaluation effect) reaching EGP 19,202.6 million

 

An overall satisfactory commercial development:
During 2016, Credit Agricole Egypt has pursued its growth path by enhancing its client franchise.

Number of customers has witnessed a net growth of 4% over 2015, in addition to the further development of the branches network by opening 2 new branches, the 1st is located in Loran, Alexandria and the second branch in Mansoura in Delta region.

Total Assets grew by 44.75% over 2015 (13.6% without EGP devaluation effect).

Business momentum remained strong with a robust growth of clients’ deposits of 46.8% (10.2% without devaluation effect) in 2016, especially the low cost deposits which has increased by 55.7%, enabling the Bank to maintain competitive cost of funds.

Gross loans portfolio increased by 30.8% (-0.4% without devaluation effect) over December 2015, due to the active demand of retail clients (14.6%) and reduced foreign currency corporate loans exposure since the beginning of 2016.

Deposits – EGP Million 2016 2015 Δ 2016/2015
 High Cost 23612 16682.2 0.415
 Low Cost 15541.4 9981 0.557
Total 39153.4 26663.2 0.468

 

Loans – EGP Million 2016 2015 Δ 2016/2015
Local Currency 11273.4 9992.3 0.128
Foreign Currency 7929.2 4689.3 0.691
Total 19202.6 14681.6 0.308

 

A sustainable profitability:
During 2016, the growth of the net banking income (revenues) was EGP 2,814.3 million, a strong increase of 25.1%. The Net interest income increased by 32.3% driven by both higher margins and volumes. As for the net commissions and fees, a decrease of 6.9% has been recorded mainly on trade finance activities which were impacted by the slowdown in volumes of transactions due to foreign currency scarcity. Finally, the Net Trading Income (mainly foreign exchange) recorded a growth of 49.9% over 2015 at EGP242.3million.

Income Statement – EGP Million Q4-16 Q3-16 Q4-15 Δ Q4/Q4 2016 2015 Δ 2016/2015
Net Interest Income 638.1 537.1 424.6 50.30% 2,093.90 1,582.80 32.30%
Net Fees & Commission Income 106.2 103.9 117.4 -9.60% 446.1 479.2 -6.90%
Net Trading Income 120.2 27.5 35 243.50% 242.3 161.7 49.90%
Other Operating Income 17.3 4.6 5.2 232.20% 31.9 25.4 26.00%
Net Banking Income 881.9 673.1 582.3 51.50% 2,814.30 2,249.10 25.10%
Total Expenses -241.5 -214.3 -209.2 15.40% -870.6 -787.9 10.50%
Gross Operating Profit 640.4 458.8 373.1 71.60% 1,943.60 1,461.20 33.00%
Other Income (Expenses) 30.4 44 -27.5 nm 78.7 10.6 X 6.4
Income Before Impairment &Tax  670.7 502.8 345.6 94.10% 2,022.30 1,471.80 37.40%
Impairment -149.2 -65.3 -28.2 nm -238.7 -117.4 103.30%
Net Income Before Tax 521.5 437.5 317.4 64.30% 1,783.60 1,354.40 31.70%
Tax -130.4 -94.1 -31.7 311.60% -416.8 -318.8 30.70%
Net Income 391.2 343.4 285.7 36.90% 1,366.90 1,035.60 32.00%
Cost / Income Ratio 27.40% 31.80% 35.90% 30.90% 35.00%

Expenses stand at EGP870.6 million in 2016, an increase of 10.5% mainly due to an increase in staff costs, as well as continuous investments to support the digital transformation of the bank. It should be noted that in Q4-2016, Credit Agricole Egypt launched its Mobile banking application (banki by Credit Agricole), a new bank website and the Mobile wallet.

Credit Agricole Egypt continued improving its efficiency, by achieving a good amelioration of the Cost/Income Ratio at 30.9% in 2016 Vs 35.0% in 2015.

In the context of slower economic growth and higher volatility in foreign exchange market, Credit Agricole Egypt increased its provisions to reach 103%, noting that its non-performing loans ratio has remained almost stable at end of 2016 compared to end of 2015 pro forma (non-performing loans in foreign currency revaluated at pre-devaluation rate).

For year 2016, the Net income reached EGP 1,366.9 million, up by 32% compared to 2015.

High profitability, Good Quality of Assets and Strong Solvency:

Ratios Q4-16 Q3-16 Q4-15 Δ Q4/Q4     Δ 2016/2015
Profitability
Return on equity 58.40% 50.60% 46.30% 26.20% 51.00% 41.90% 21.70%
Return on assets 3.40% 3.80% 3.60% -5.40% 3.00% 3.20% -8.80%
Efficiency
Cost – to – Income 27.40% 31.80% 35.90% -23.80% 30.90% 35.00% -11.70%
Liquidity
Loans – to – Deposits 49.00% 50.20% 55.10% -10.90% 49.00% 55.10% -10.90%
Assets Quality
Capital adequacy ratio 11.57% 14.83% 14.39% -19.60% 11.57% 14.39% -19.60%
Non-performing loans ratio 4.16% 3.50% 3.05% 36.24% 4.16% 3.05% 36.24%
Provision Coverage 186% 191% 198% -6% 186% 198% -6%

In 2016, despite the challenging environment, Credit Agricole Egypt managed to maintain its Non-Performing Loans ratio stable (excluding impact of devaluation) with one of the highest provision coverage level among commercial banks operating in Egypt.

Productivity and profitability indicators are the result of the solid operating performance. Capital Adequacy Ratio is reduced by 282 basis points due to higher Egyptian pounds counter value of Risk Weighted Assets in foreign currency (devaluation impact). However, solvency remains significantly above regulatory requirement. It is worth mentioning that the net profit achieved in 2016 will allow the bank to significantly increase its equity in 2017.

Continuous Support to Our Community
In 2016, CAE increased again its commitment (EGP 10
Million) to key projects supporting its community in the field of Education, Health, Youth and Social projects. CAE is also supporting the Federation of Egyptian Banks’ project for community development.

Conclusion:
Credit Agricole Egypt managed in 2016 a solid and sustainable growth, based on quality of service provided to its clients. The Bank’s profitability has been strengthened, with sound assets and robust solvency.

The Board of Directors and Executive Management will continue in 2017 to actively monitor the economic situation in order to ensure that the Bank and its clients remain well positioned.

Crédit Agricole Egypt will continue to support key investment projects in Egypt, in association with other entities of Credit Agricole Group and will reinforce its Proximity Banking activities, with a strong drive on digital transformation.

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