---
title: "ZAWYA: Credit Agricole Egypt Q1 profit slips 2.9% YoY as higher provisions, taxes weigh"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284864193.md"
description: "Credit Agricole Egypt reported a 2.9% year-on-year decline in Q1 net profit to EGP 1.80 billion ($33.6 million) due to increased credit impairment charges and taxes. Despite this, core banking income showed resilience, with net interest income rising 2.2% YoY to EGP 2.86 billion ($53.3 million). Net fees and commission income remained stable at EGP 404 million ($7.5 million). The bank's impairment charge for expected credit losses increased significantly by 79.5% YoY to EGP 192 million ($3.58 million)."
datetime: "2026-05-01T04:01:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284864193.md)
  - [en](https://longbridge.com/en/news/284864193.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284864193.md)
---

# ZAWYA: Credit Agricole Egypt Q1 profit slips 2.9% YoY as higher provisions, taxes weigh

**Staff Writer**

EGX-listed Credit Agricole reported a 2.9% year‑on‑year decline in net profit to EGP 1.80 billion ($33.6 million) in Q1, 2026, as higher credit impairment charges and a heavier tax burden offset steady growth in core banking income.

Core earnings remained resilient, with net interest income (NII) rising 2.2% YoY to EGP 2.86 billion ($53.3 million), supported by balance‑sheet expansion and sustained yields on interest‑earning assets.

Meanwhile, net fees and commission income was broadly flat YoY at EGP EGP 404 million ($ 7.5 million).

The bank’s impairment charge for expected credit losses surged 79.5% YoY to EGP 192 million ($ 3.58 million).

(Writing by Ahmad Mousa; editing by Daniel Luiz) ahmad.mousa@lseg.com

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