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Tuesday, August 12, 2008

Net profit of Egypt's Credit Agricole bank increases by 1.9% in H1.





Net profit of Egypt's Credit Agricole bank increases by 1.9% in H1. The net profit of Egypt 's Credit Agricole bank increased by 1.9% to reach EGP 215.5mn (USD 41mn) in H1/2008, the bank said in a statement. The net profit amounted EGP 108mn (USD 30.8mn) in Q2 below the forecasts of analysts. Credit Agricole is Egypt 's fourth largest bank by market value. The lender was formed in 2006 after the merger of Calyon Bank Egypt and Egyptian American Bank. In January, Credit Agricole said it planned to double its branch network in Egypt by 2010 and expand lending by around a third each year as Egypt 's economy surges.







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