Cairo – Mubasher: Credit Agricole – Egypt posted a 19.5% year-on-year profit increase during the first half of 2019.

The bank’s net profits amounted to EGP 1.3 billion in the six-month period ended 30 June, compared to EGP 1.09 billion in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

Year-on-year, the bank’s interest income rose to EGP 1.5 billion in the January-June period of 2019, up from EGP 1.4 billion.

As for the second quarter of 2019, Credit Agrocile – Egypt logged a net profit of EGP 610.5 million, compared to EGP 489.5 million in Q2-18.

At the level of standalone business, the lender’s profit grew to EGP 1.31 billion in H1-19 from EGP 1.09 billion in H1-18.