Earnings Report /
Egypt

Credit Agricole Egypt: 3Q21 – bottom line improves on lower provisions and effective tax rate

  • Non-interest income failed to support earnings

  • Healthy balance sheet growth reflects the positive performance

  • The stock is currently trading at 5.7x P/E22 and 1.0x P/B22 with ROAE of 18%

Dalia Bonna
Al Ahly Pharos Securities Brokerage
10 November 2021