Report highlights 2 Egyptian projects among major clean energy ventures in N.Africa
A report by Energy Capital & Power highlighted two Egyptian projects – Suez Wind Power ...
Credit Agricole Egypt to issue its third sustainability report soon
Credit Agricole Egypt (CAE) will soon release its third integrated sustainability report for 2023, titled “Embracing an elevated journey”.
The bank is the first in Egypt to introduce integrated reporting in alignment with Integrated Reporting (IR) framework and in compliance with the Global Reporting Initiative (GRI).
In its pursuit to provide solar-powered agriculture solutions in rural villages, CAE Foundation in collaboration with Schneider Electric, Egypt, built a solar-powered water pump and cladded Water canal in Tita village, Menoufeya.
The project enables 450 households to use clean energy, reduce water waste and increase crop production.
In celebration of the World Blood Donor Day, CAE and CAE Foundation conducted a staff blood drive for the benefit and support of Ahl Masr Burns Hospital and its patients.
As for digital development, CAE digital channels continue to show competitive positive achievements.
For retail, Banki Mobile continues to be an essential tool for reinforcing CAE position as one of the leading banks in digital banking with more than 3M login during Q2 2024. CAE digital channels have witnessed more than 2.6M transactions executed during Q2 2024 (+240% YoY) with a remarkable 99% of domestic transfers being done online.
CAE went live on INSTAPAY in May 2023 and continues to make significant contribution i.e. over 5.4M outgoing transactions thereby demonstrating the participation of the bank within the growing digital banking ecosystem in alignment with the continuous efforts of the Central Bank of Egypt.
For corporate and SMEs customers, 41% of the companies have been digitally active on the online platform, with almost half of the domestic transfers now done digitally with 19% increase over Q2 2023.
CAE witnessed an increase in digital governmental payments volumes by around 110% in Q2 2024 compared to Q2 2023.
For Ecommerce, CAE continued to capitalize on the payment acceptance product “banki Commerce” 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 Q2 2024, “banki Commerce” had generated more than 43K eCommerce transactions processed through the new gateway since inception. CAE remains committed to its ambitious vision in the Payment Acceptance field, and its unique onboarding journey continues to make it easy for all customers to onboard.
Credit Agricole Egypt continues to leverage on its digital infrastructure, diversified expertise, solid balance sheet structure, prudent risk management, strong liquidity position and adequate capital buffer allowing the bank to pursue its strategic profitable growth by serving its customers as well as the economy.
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