(AFP photo)
Crédit Agricole has registered EGP 218.5m in net profit in the fourth quarter (Q4) of 2014, marking 42.1% increase compared to Q3, doubling the figure for the corresponding 2013 quarter.
Beltone Financial revealed in a report, released Sunday, that the bank’s net interest profit has recorded EGP 348.3m in Q4, with a 10.5% increase. This compared to Q3 and presented a 21.4% increase compared to Q4 2013.
The amount of loans in Q4 2014 was valued at EGP 13.2bn, at the same level of the preceding quarter, with a 0.4% increase from Q4 2013.
Income data, including non-interest revenues, operating expenses and provision expenses are yet to be issued, Beltone Financial noted.
Crédit Agricole was among the banks that maintained their consistency as strong players in the treasury bills and bonds market for 16 months, a Ministry of Finance report showed in January.
During Q1 of fiscal year (FY) 2014/2015, the NBE took the lead in the primary market treasury bills while CIB placed second. Third place was taken by Banque Misr, while the fourth went to both Barclays Bank and Qatar National Bank Al-Ahly. Fifth position went to Crédit Agricole.
Indicators of income:
| EGP million | Q4 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | Year-on-year basis | Quarter-on-quarter basis |
| Net interest income | 286.8 | 286.3 | 296.3 | 315.3 | 348.3 | 21.40% | 10.50% |
| Net profit | 111.7 | 147.6 | 155.8 | 153.7 | 218.5 | 95.70% | 42.10% |
