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Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

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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