Crédit Agricole Egypt: Net Profit after Tax Falls 11.6% in Nine Months

Crédit Agricole Egypt’s board ratified Sunday the indicators of business results for the past nine months ended on last September 30, revealing a  11.6% fall in net profit after tax to EGP 457.2 million (US$63.8 million).

This comes in comparison to consolidated net profit after tax worth EGP 516.9 million posted by the bank during the first nine months of 2013.

Meanwhile, the bank registered a standalone net profit after tax amounting to EGP 465.1 million by end of September 2014, 12.4% down from EGP 531 million for the same comparable period a year earlier.