EARNINGS WATCH-

Credit Agricole Egypt’s net income after tax rose 32.4% y-o-y in 1H 2022, recording EGP 1.02 bn, according to its financial statement (pdf). The bank’s net interest income rose 13.6% y-o-y to EGP 1.64 bn during the quarter.

EDITOR'S NOTE- This story was corrected on 9 August, 2022 to reflect that these earnings are for 1H 2022, not 2Q 2022.

MARKET ROUNDUP-

The EGX30 rose 1.0% at today’s close on turnover of EGP 440.15 mn (45.7% below the 90-day average). Foreign investors were net sellers. The index is down 20.2% YTD.

In the green: Fawry (+4.1%), e-Finance (+4.0%) and Rameda (+3.3%).

In the red: Eastern Company (-2.6%), EKH-EGP (-1.9%) and AMOC (-0.5%).

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