The Board of Directors of Credit Agricole Egypt approved the results for the period ended June 30, 2026, in its meeting held on Tuesday, July 28, 2026.
Main Highlights (Year-on-Year – YoY)
• Net Profit at EGP 3,608 million, +2% Year-on-Year;
• Net Banking Income at 7,239 million, +10% Year-on-Year;
• Customer Deposits reached EGP 126.4 billion, +22% Year-on-Year;
• Gross Loans reached EGP 72.7 billion, +23% Year-on-Year;
Economic Dynamics:
Globally, 1H26 witnessed continued economic uncertainty amid persistent geopolitical volatility and trade policy uncertainty, weighing on the overall global growth outlook. While the disinflation process continued across many advanced and emerging economies, inflationary pressures remained uneven following the recent increase in energy prices amid heightened regional uncertainty. Consequently, central banks maintained a cautious monetary policy stance, balancing inflation risks against weaker growth prospects while remaining vigilant to tighter financial conditions and potential extended supply chain disruptions.
Domestically, the adverse impact of the regional conflict moderated the GDP growth in 1Q26 at 5.0% and pointed towards mild deceleration in 2Q26. The inflation continues to ease at a moderate pace to reach 14.3% (Headline and Core) in June 26. The outlook on inflation remains well anchored on the back of favorable exchange rate movements and limited demand-driven pressures. GDP Source CBE MPC Press Release 9th July 2026.
Crédit Agricole Egypt achieved good commercial growth as of 1H26
Commercial growth remained strong across all business lines during 1H26 with the gross loan portfolio increasing 23% YoY to reach EGP 72.7 billion and customer deposits increasing 22% YoY to reach EGP 126.4 billion. The LCY L/D ratio has significantly improved to 82.3% as of 1H26 with renewed focus on liability generation.
Corporate Banking continues to deliver strong performance in 1H26 driven by growth in lending portfolio by EGP 11.5 billion (27% YoY) while maintaining high asset quality and deposits portfolio growth by EGP 14 billion (21% YoY) despite pricing competition. CAE’s growth continued to be driven by strong customer engagement, disciplined financial management and smart digital solutions. By focusing on tailored financial services, we successfully diversified our income streams, meanwhile, we remain committed to being a trusted partner in our client’s sustainable growth and supporting their financial goals during these changing economic times.
Retail banking continued to deliver good performance and portfolio growth during 1H26 with Loans increasing by 11% YoY and Deposits by 22% YoY. This performance was driven by successful marketing campaigns, new product launches, launch of digital self-service sales and active client acquisitions, despite intense market competition (Term Deposits and Certificate of Deposits). Cash loans saw solid growth through strategic cross-selling and focus on supporting SMEs initiatives.
CAE achieved good growth in active customer base, +6% YoY and +3% QoQ. This success was driven by key initiatives including the continuous updates of BANKI application with more self-service features, successful payroll customer acquisition and highly competitive CDs and TDs. CAE continues to deliver tailored products and services for diverse segments such as youth, women and travelers in addition strong marketing campaigns (Vendor additions to Happy Points, Energy cashback offer, attractive rates on solar panels, NOON segmented Offer for Fidèle club members) ensuring that we meet the unique needs of all our clients.
Dynamic Commercial Activity and Solid Balance Sheet Structure
CAE continued its strong commercial activity in 1H26, through stronger delivery of digital and financial products to customers complemented with growing active customer base. Gross loans (including loans to banks) grew up by +23% YoY and +6% QoQ to reach EGP 72.7 billion while customer deposits grew up by +22% YoY and +6% QoQ to reach EGP 126.4.
*Corporate and Retail breakdown based on Published Financial Statements
Profitability Performance
Net Banking Income (NBI) recorded growth of +10% YoY in 1H26 to reach EGP 7,239 million driven by increase in NII (+6%) and other operating income (+90% YoY) driven by higher FX Income, reflecting increased transaction volumes and improved margins amid heightened regional geopolitical tensions. Net Interest Income increased by +6% YoY resulting from higher volumes despite competitive liabilities pricing environment.
Operating expenses increased +16% YoY in line with inflation despite tight labor market effects on compensation (including minimum wage regulations). Cost to Income Ratio (C/I) increased to 27.5% from 26% in 1H26 (indicating regularizing trend) and Gross Operating Income (GOI) increased by +8%, reaching EGP 5,251 million.
Higher cost of risk at EGP -401 million in 1H26 vis-à-vis EGP -176 million in 1H25 driven by higher good cost of risk on increased volumes and regularized retail risk.
As a result, Net profit increased +2% YoY driven by higher income.
Sequentially QoQ, the bank delivered quite similar financial performance. NBI in 2Q26 recorded an increase in net interest income +2% (despite competitive pricing) while other operating income decreased by -9% (FX Income). Increase in operating expenses were controlled at +5% QoQ and overall Net Profit remained flat QoQ.
* Income Statement based on managerial reporting
High Quality of Assets, Strong Solvency and Liquidity
CAE NPL ratio at a healthy 2.1% as of 1H26 demonstrating the high asset quality on the back of resilient risk management and strong capital & cash reserves to support organic growth and manage market challenges. Prudentially CAE maintains ratio well above the regulatory thresholds.
