Crédit Agricole Egypt (CAE) will participate as a lead sponsor and panellist in the Euromoney Egypt Conference taking place from the 28th to 29th September 2010 at the Semiramis Intercontinental hotel. Mr. Henri Guillemin, Crédit Agricole Egypt Managing Director, will participate in the fourth panel entitled "Competitiveness" The panel will debate the definition of competitiveness on a macro level as well as its interpretation in the Egyptian market.
"We are very enthusiastic to take part once more in this significant financial event. This year, we will share our opinion on the importance of increasing the competitiveness of the banking sector on economic growth. Hence, this economic growth will ultimately raise productivity and reinforce Egypt's competitiveness", said Henri Guillemin, Crédit Agricole Egypt's Managing Director. "As part of Egypt's national five years plan, the Government has recently implemented a series of economic reform initiatives that had a significant impact on financial sector efficiency. This is, in addition to the Central Bank of Egypt's agenda and introducing Basel II standards to support the financial sector development".
As a universal bank that is backed-up by the experience of Credit Agricole Group, CAE continues to provide new products and services tailored to meet the needs and obligations of different segments and business lines. In addition to offering Corporate, SMEs, Capital Market and Private Banking solutions, the bank studied and understood customers' need for faster, friendlier and more secured banking services. Accordingly, CAE have equipped its online banking with the latest technology and have expanded its nationwide network, reaching 72 branches designed to enhance customers' convenience and the speed of service. In addition to more than 100 ATMs, two mobile ATM vehicles and 24/7 call centre, thus reaching customers wherever they are.
Crédit Agricole Egypt is part of the French group Crédit Agricole. The bank has recently reported its semi-annual results for 2010. The net income group share was EGP 123million for the first half of 2010 and EGP 65million for the first quarter. During the first half of 2010, revenues increased by 7% and expenses increased by 5%.
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