{"id":560009,"date":"2021-02-11T03:50:52","date_gmt":"2021-02-11T03:50:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/covid-19-dents-credit-agricole-egypt-annual-profits\/"},"modified":"2021-02-11T03:50:52","modified_gmt":"2021-02-11T03:50:52","slug":"covid-19-dents-credit-agricole-egypt-annual-profits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/covid-19-dents-credit-agricole-egypt-annual-profits\/","title":{"rendered":"Covid-19 dents Credit Agricole Egypt annual profits"},"content":{"rendered":"

Credit Agricole Egypt\u2019s net income plunged more than 42% in 2020 <\/strong>as the covid-19 pandemic weighed on income and caused a deterioration in the quality of its loan book. The bank booked a EGP 1.36 bn profit last year, down from EGP 2.36 bn in 2019, according to an EGX disclosure (pdf)<\/a> released yesterday. The economic crisis and rate cuts caused its net banking income to fall more than 10% to EGP 3.64 bn, while loan impairments grew by EGP 558 mn due to what it described as \u201ccovid-19\u2019s negative impact on risk portfolio.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Agricole Egypt\u2019s net income plunged more than 42% in 2020 as the covid-19 pandemic weighed on income and caused a deterioration in the quality of its loan book. The bank booked a EGP 1.36 bn profit last year, down from EGP 2.36 bn in 2019, according to an EGX disclosure (pdf) released yesterday. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[204,205,409,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560009","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-banking","tag-credit-agricole","tag-earnings-watch","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"dd9955e9-86e0-4789-9e40-193b757eadc6","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559994],"teaser":"","voice_url":""},"yoast_head":"\nCovid-19 dents Credit Agricole Egypt annual profits - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/covid-19-dents-credit-agricole-egypt-annual-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covid-19 dents Credit Agricole Egypt annual profits\" \/>\n<meta property=\"og:description\" content=\"Credit Agricole Egypt\u2019s net income plunged more than 42% in 2020 as the covid-19 pandemic weighed on income and caused a deterioration in the quality of its loan book. The bank booked a EGP 1.36 bn profit last year, down from EGP 2.36 bn in 2019, according to an EGX disclosure (pdf) released yesterday. 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The bank\u2019s net interest income rose 7% y-o-y to EGP 750 mn during the October-December period. On an\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554695,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/04\/credit-agricole-reports-higher-net-income-in-9m2021-on-slightly-higher-net-interest-income\/","url_meta":{"origin":560009,"position":1},"title":"Credit Agricole reports higher net income in 9M2021 on slightly higher net interest income","author":"enterpriseam admin","date":"4 November 2021","format":false,"excerpt":"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\u2019s close on turnover of EGP 1.05 bn\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551986,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/earnings-watch-credit-agricole\/","url_meta":{"origin":560009,"position":2},"title":"Earnings Watch: Credit Agricole","author":"enterpriseam admin","date":"3 August 2022","format":false,"excerpt":"EARNINGS WATCH- Credit Agricole Egypt\u2019s 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\u2019s net interest income rose 13.6% y-o-y to EGP 1.64 bn during the quarter. 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The bank\u2019s net interest income rose 15% y-o-y to EGP 4.4 bn during the period.Abu Dhabi Islamic Bank Egypt\u2019s (ADIB) net income rose 49% to EGP 1.5\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/earnings-watch-amoc-credit-agricole-export-development-bank-adib\/","url_meta":{"origin":560009,"position":4},"title":"Earnings watch: AMOC, Credit Agricole, Export Development Bank, ADIB","author":"enterpriseam admin","date":"15 May 2022","format":false,"excerpt":"EARNINGS WATCH- Alexandria Minerals Oil Company\u2019s (AMOC) bottom line rose roughly 638% in 9M 2021-2022 to EGP 762 mn, according to the company\u2019s financials (pdf). The company\u2019s revenues rose 72% y-o-y during the nine-month period to EGP 12.26 bn. Credit Agricole Egypt\u2019s bottom line rose 30% y-o-y in 1Q 2022\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573352,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/29\/earnings-watch-tmg-credit-agricole\/","url_meta":{"origin":560009,"position":5},"title":"Earnings watch: TMG, Credit Agricole","author":"enterpriseam admin","date":"29 July 2020","format":false,"excerpt":"EARNINGS WATCH- Talaat Moustafa Group (TMG) reported a drop in net income to EGP 705 mn in 1H2020, compared to EGP 812 mn in the first half of last year, the real estate developer said in a regulatory filing (pdf). 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