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Crédit Agricole in Egypte

Formed in 2006 via successive mergers - Indosuez, CCF, Crédit Lyonnais and Egyptian American Bank – today, Crédit Agricole Egypt is the only French bank operating in Egypt.

 

Siège de Crédit Agricole Egypte

  • Credit Agricole Egypt (CAE)

    Created in 2006 via successive mergers: Indosuez, CCF, Crédit Lyonnais, and Egyptian American Bank.

    In August 2015, CA Egypt joined the EGX 30 – the Cairo Stock Exchange index: the only French bank operating in Egypt, it is also part of the EGX / ESG S&P sustainability index.

    Historically dedicated to the Corporate market, CA Egypt became a universal bank, with 50% of its net banking income generated on retail market.

    Development of strong synergies to serve Crédit Agricole Group customers, notably with CACIB.

    A solid bank with strong financial fundamentals that enabled the bank to face two crises (in 2011 and 2013) and a devaluation of about 50% of the local currency in 2016, maintaining a high level of profitability (RONE > 40%).

  • Key figures

     Egypt: 94 million inhabitants

     

     

     

     

     

    381,310 customers
    79 branches
    2,496 employees

     
    Total assets: 2.8 bn€

    carte-egypte

     

    Performance

    • One of the 2 banks of the EGX 30 Index – Cairo Stock Exchange
    • Arab Digital Bank Excellence Award for “Banki Mobile (Union of Arab Banks – March 2019)
    • Best private bank in Egypt (Global Business 2019)
    • Target of 75% of eco-responsible branches equipped with solar panels

    Moody’s : B3
    S&P : B
    Fitch : AA+ / stable
    (Nov 2019)

     Source: BPI/FIN - Data at 31/12/2019

  • Strategic approach

    MTP 2022 Strategic ambition : be the European bank of reference in Egypt

    • Develop business activities through a systematic approach to digitalization and promoting customer-centric innovation;
    • Accelerate on customer acquisition;
    • Reinforce the bank differentiated positioning on the corporate market and be the leading partner of MNCs and local GEs through the strengthening of expertise and customer satisfaction (e.g. structured finance);
    • Develop new activities in synergy with the Group (Leasing - CAL&F, Wealth Management - Indosuez and Insurance - CAA) to take advantage of market growth dynamics.
  • Governance

    Organisation

    • Company name: Crédit Agricole Egypt S.A.E.
    • Shareholder at 01/04/2018 (Source Orion database):
      • 60.5% : Groupe Crédit Agricole S.A. (dont 47,4% Crédit Agricole SA et 13,1% CACIB)
      • 6,8% : Rolaco EGP for Investment owned by Ali Ben Hassan Ben Ali Daykh
      • 32,7% : free Float
    • Crédit Agricole Egypt’s organizational chart (July 2020)

     

    Crédit Agricole Egypt Management

    • Pierre Finas, Managing Director

     
    BPI Supervision

    • Stanislas Ribes - Head of BPI Supervision and Control
    • Emmanuel Arribat - Supervision Head - Egypt
  • Key economic indicators

    Data

    France

    Egypt

    Currency

    EUR

    EGP

    Population (in millions)

    64.8

    99.2

    Population growth rate

    0.4

    3.2

    Nominal GDP (in USD billions)

    2,707

    302

    Real GDP growth, annual (%)

    1.3

    5.6

    Nominal GDP growth (%)

    2.4

    21.1

    GDP per inhabitant, current USD

    41,761

    3,047

    Inflation rate

    1.3

    13.9

    Unemployment (%)

    9.1

    10.9

    National saving rate

    22.8

    14.3

    Household savings rate

    14.9

    nd

    Budget deficit/GDP (%)

    -3.0

    -7.4

    source : FMI, ECO / Crédit Agricole S.A (Data at end 2019)

     

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