Cairo – Mubasher: The unaudited consolidated financial results of Credit Agricole Egypt showed net profits of EGP 701.01 million in the first half (H1) of 2020, down by 46.3% year-on-year (YoY) from EGP 1.304 billion.

The lender’s interest income retreated to EGP 2.6 billion in the January-June period from EGP 3.03 billion in the corresponding period in 2019, according to a bourse disclosure on Tuesday.

In addition, the bank’s standalone net profits slipped to EGP 701.2 million in H1-20 from EGP 1.31 billion in H1-19.

It is worth mentioning that during the first quarter (Q1) of 2020, the bank achieved net profits of EGP 439.96 million, down from EGP 693.75 million in the same period a year earlier.