Crédit Agricole says H1 net profit grows 49.8% in Egypt

Crédit Agricole SA says first-half net profit in Egypt rose 49.8 percent from a year ago to record 941.04 million Egyptian pounds ($53 million).

Earlier, the French bank posted a net profit of 633.3 million pounds in Egypt during the first half of 2016.

Loans fell 1.7 percent to 17.045 billion Egyptian pounds at the end of June 2017 from 17.350 billion pounds at the end of December 2016.

Customer deposits climbed 3.9 percent to 40.697 billion pounds at the end of June 2017, compared to 39.153 billion pounds at the end of December 2016.