Cairo – Mubasher: Credit Agricole Egypt reported a 41.9% year-on-year (YoY) slide in its consolidated net profits, logging EGP 1.37 billion in 2020, compared to EGP 2.36 billion, the unaudited financial results showed.

The lender’s interest income retreated to EGP 5.17 billion last year from EGP 5.96 billion in 2019, according to a bourse disclosure on Wednesday.

As for standalone business, the bank posted net profits of EGP 1.36 billion in 2020, down from EGP 2.36 billion a year earlier.

During the first nine months of 2020, Credit Agricole Egypt logged EGP 1.03 billion in net profits, down from EGP 1.86 billion in the year-ago period, including minority shareholders’ rights.