Calyon Egypt Jan-March net up 481 percent

Daily Star Egypt Staff
1 Min Read


CAIRO: Calyon Bank Egypt reported a net profit of LE 22.1 million ($3.8 million) in the three months to the end of March, the stock exchange said in a statement on Tuesday. The figure represents a 481 percent increase compared with same period last year. The bank is 75 percent owned by French investment bank Calyon, which is a subsidiary of Credit Agricole. The second largest shareholder in Calyon Egypt is El Mansour & El Maghraby Development and Investment Co, with 22 percent, according to Calyon Bank Egypt s Web site. The Egyptian bank is the result of a merger between Credit Agricole Indosuez (Egypt) and the Egyptian branch of Credit Lyonnais. Reuters

Share This Article
Leave a comment