(Ecofin Agency) - Egyptian subsidiary of French bank Crédit Agricole announced, in a release published on February 17, 2019, that it realized EGP2.2 billion (about $125 million) of net profit in 2018. This represents a 12.4% rise compared with the 2017 results.

Its return on equity reached 55% in 2018 while the net earnings per share rose by 12.36% to reach EGP6.4.

During the period under review, the local subsidiary granted EGP21.589 billion loan to the economy, 19.5% higher than in 2017. Deposits grew by 18.5% to EGP43.93 billion.

With 2,300 collaborators and 350,000 clients, Crédit Agricole Egypt is one of the seven international retail banks (along with the subsidiaries in Italy, Poland, Serbia, Ukraine, Morocco and Romania) owned by the French banking group.