Company Profile For Credit Agricole Egypt

Credit Agricole Egypt (CIEB.CA) (Cairo Stock Exchange)

sector: Financials · industry: Banks ·

As of 25 Nov 2009

11.50EGP

Price Change

+0.52

Percent Change

+4.74%

Analyst Recommendations

Overview

Credit Agricole Egypt, a subsidiary of Credit Agricole SA, is an Egypt-based Company engaged in the provision of banking, financial and investment services through a network of 56 branches across Egypt. The Bank operates through four primary divisions: Consumer, Private, Corporate and Enterprises Banking. The Consumer Banking segment offers accounts, savings, consumer cards, loans and remittance services. Its Private Banking division offers private banking accounts and savings, private banking cards and investment products. The Corporate Banking segment offers treasury services, trade finance and correspondent banking services. The Enterprises Banking division offers working capital products, trade products, spot and foreign exchange forward, swaps, and medium- and long-term financing.

Quick Financial Synopsis

BRIEF: For the six months ended 30 June 2009, Credit Agricole Egypt's interest income decreased 7% to EGP691.3M. Net interest income after loan loss provision increased 9% to EGP310.9M. Net income increased 9% to EGP207.7M. Interest income reflects a decrease in revenues from loans and balances at banks. Net income benefited by a significant decrease in operating expenses as well as higher income from other operations. The Company is based in Egypt.