Credit Agricole reports higher net income in 9M2021 on slightly higher net interest income

EARNINGS WATCH-

Credit Agricole Egypt reported EGP 1.18 bn in net income in 9M2021, up 13.8% y-o-y, according to its earning release (pdf). It reported a net interest income (NII) of EGP 2.2 bn, up 1.6% y-o-y.

MARKET ROUNDUP-

The EGX30 fell 0.6% at today’s close on turnover of EGP 1.05 bn (31.4% below the 90-day average). Local investors were net buyers. The index is up 7.1% YTD.

In the green: Orascom Development Egypt (+3.5%), Fawry (+2.1%) and Eastern Company (+1.6%).

In the red: Mopco (-5.1%), GB Auto (-4.2%) and Sidi Kerir Petrochem (-2.2%).