Cairo, Egypt - April 30 , 2026 - The Board of Directors of Credit Agricole Egypt approved the results for the period ended March 31, 2026, in its meeting held on Wednesday, April 29, 2026.
1Q26 ushered in a period of heightened global uncertainty with the conflict in the Middle East exacerbating the already restrained global outlook driven by disruptive trade policies since 2Q25. The supply chain disruption with the consequential impact on the prices of key commodities will weigh on the growth and inflation outlook for the remainder of the year globally. This will keep the central banks of developed and emerging economies on a highly cautious mode in order to maintain a balance between growth and inflation.
Domestically, real GDP growth is expected to slow down to ~ 4.8%-5.0% in 1Q26, down from 5.3% in 4Q25. Growth outturns in 4Q25 were primarily driven by positive contributions from non-petroleum manufacturing, trade and communications, which are expected to continue supporting economic activity. However, given the adverse effects of the ongoing conflict in the region, real GDP growth projection down to 4.9% is expected to remain below potential for longer period in contrary to the previous CBE projections. Demand-side inflationary pressures are expected to remain subdued in the short term. GDP Source CBE MPC Press Release 2nd April 2026.
Crédit Agricole Egypt achieved good commercial growth as of Q1 2026
Commercial growth was good for all business lines during 1Q26 with the gross loan portfolio increasing 17% YoY to reach EGP 68.4 billion and customer deposits increasing 26% YoY to reach EGP 119.6 billion.
Corporate Banking continues to deliver good performance n 1Q26 driven by growth in lending portfolio by EGP 7.5 billion (17% YoY) while maintaining high asset quality and deposits portfolio growth by EGP 16.5 billion (28% YoY) despite pricing competition. CAE’s growth is driven by strong customer engagement across products and services, disciplined financial management and strategic capital inflows. By delivering tailored digital and financial solutions, we continue to diversify our income and serve as dedicated partner in our client’s sustainable growth.
Retail banking demonstrated strong portfolio growth in 1Q26 with Loans increasing by 14% YoY and Deposits by 23% YoY. This performance was driven by successful marketing campaigns, introduction of new products, and active client acquisitions, despite the competitive (Term and CDs) market. Cash loans production demonstrated good growth supported by successful campaigns and strategic cross-selling with more focus on SME initiatives.
Good growth in active customer base of 4% YoY resulting from key initiatives focused on enhanced BANKI version with more self-service features, customer acquisition (payroll), reactivation, attractive & competitive CDs, and cross-selling. This included launching new products & services dedicated to specific clientele i.e. Youth, Private Banking, Women, Travelers (Concierge) etc. to attract and address diverse needs of customers.
Dynamic Commercial Activity and Solid Balance Sheet Structure
Our commercial activity stayed strong and beat our targets this period, this allowed us to offer the right digital and financial products to all our customers, helping us to grow our community of active users. This positive outcome is evident in the key performance indicators: gross loans (including loans to banks) increased by 17% YoY to EGP 68.4 billion and customer deposits grew by 26% YoY to EGP 119.6 billion.
Profitability Performance
Net Banking Income (NBI) recorded growth of +6% YoY in 1Q26 to reach EGP 3,616 million mainly due to increase in NII (+2%) and other operating income (+83% YoY) in other operating income driven by higher FX income on the back of higher volumes due to market volatility (regional conflict). Net Interest Income increased by +2% YoY resulting from higher volumes despite competitive liabilities pricing environment.
Operating expenses increased 15% YoY in line with inflation despite tight labor market effects on compensation (including minimum wage regulations). Cost to Income Ratio (C/I) increased to 26.8% from 24.8% in 1Q26 (regularizing trend) and Gross Operating Income (GOI) increased by +4%, reaching EGP 2,645 million.
Higher but normalized cost of risk at EGP -230 million in 1Q26 vis-à-vis EGP -85 million in 1Q25 driven by higher good cost of risk on increased volumes and regularized retail risk. Net Profit Before Tax up +2% vis-à-vis 1Q25.
Net profit decreased by -4% YoY impacted by an increase in effective tax rate by 4% in 1Q26 vis-à-vis 1Q25.
Sequentially QoQ, Net Banking Income (NBI) and Gross Operating Income (GOI) increased by 8% and 6% respectively. This increase is driven by net interest income +4% (despite competitive pricing), other operating income by +72% (FX Income), controlled increase in operating expenses +13% QoQ. Overall Net Profit lower by 1%.
Income Statement based on managerial reporting
High Quality of Assets, Strong Solvency and Liquidity
CAE NPL ratio at a healthy 2.3% as of 1Q26 demonstrating the high asset quality on the back of resilient risk management and strong capital & cash reserves to support organic growth and manage market challenges. Prudentially CAE maintains ratio well above the regulatory thresholds.
Key Financial and Business Indicators
Digital Journey
Credit Agricole launched a transformed version of its banki Mobile app with extensive focus on UX (user experience) and optimized customer journey. An entirely revamped, secure, and user-centric one stop shop app offering intuitive navigation and advanced features. This transformation is part of CAE’s broader OMNI channel strategy, aimed at delivering a 100% digital, 100% human model that prioritizes convenience, innovation and seamless self-care user experience. With an agile infrastructure and open innovation approach, CAE continues to invest in digital capabilities, reinforcing its market-leading position and supporting national goals of inclusion and sustainability.
In 1Q26, Crédit Agricole Egypt (CAE) successfully launched 3 key features into the Mobile banking app that significantly enhance our customer’s experience. This includes the instant online deposits booking, effortless online applying for bank products and instant transfers through our mobile app, delivering a streamlined and user centric digital banking journey that has been positively received by our customers reflected in the strong growth numbers for our online business.
CAE continued its solid steps to realize its digitalization ambitious roadmap, by launching its payment acceptance product "banki Commerce" thereby contributing further towards the Central Bank efforts for a "less cash society" as well as the gradual shift to payment acceptance. By the end of 1Q26, "banki Commerce" had generated +105K e-commerce transactions processed through the new gateway since inception. CAE Consistently, remains committed to its ambitious vision in the Payment Acceptance field, and its unique onboarding journey continues to make it easy for companies to optimize their inflows.
49% of Corporate and SME customers are digitally active and half of the domestic transfers are digitally processed through the platform, Digital transactions maintained strong engagement levels with +5% growth in 1Q26 vis-à-vis 1Q25 transactions. Additionally, as more companies continue to pay their governmental dues online, this type of payments grew by +9% in 1Q26 compared to 1Q25.
Top Employer Award
CAE has been certified as a Top Employer for two consecutive years by Top Employer Institute. The certification encompasses CAEs HR practices and policies on People Strategy, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Well Being and Work Environment. This confirms the commitment of CAE towards employee development and the human-centric culture of empowerment, engagement and trust.
Sustainability and CSR Activities
The 5th CAE Sustainability Report was published during 1Q26 using the Integrated Reporting framework approach and in accordance with the Global Reporting Initiative (GRI) standards.
CAE under the campaign of “One for us and One for the Community” uses sports-based initiatives to raise awareness and promote inclusion of vulnerable youths in the private sector. In 1Q26, CAE participated in the 2nd edition of GOSSOUR Football Tournament during Ramadan in order to empower youth without parental care. The participation brought together young women and men without parental care alongside employees from the private sector and civil society thereby boosting integration of identified vulnerable young individuals by mainstream business. This was also supported by financial literacy sessions equipping participants with practical skills on saving techniques, understanding of banking fundamentals thereby promoting skills development and employability opportunities.