Credit Agricole Egypt said on Thursday its net profit dropped 25 per cent during the first nine months of the year. Net profit fell to LE242.9 million (US$40.7 million) from LE322.2 million in the first nine months of 2010, it said in a statement released by the Egyptian stock exchange. The drop in net profit was driven by the decline in net operating income from current and non-current activities, which dropped 9 per cent each. Net interest income, on the other hand, climbed 2 per cent to reach LE614 million, despite a drop in profit margins.
