Credit Agricole Egypt Q1 net drops 45 per cent

Reuters , Wednesday 11 May 2011

Credit Agricole Egypt said its first quarter net profit fell 45 per cent year-on-year to 59.9 mn Egyptian pounds ($10.5 mn).

The bank, owned 60 per cent by France's Credit Agricole had a net profit of EGP108 mn for the same period a year earlier, it said in a statement released by the stock exchange on Wednesday.

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