Credit Agricole - Egypt Bank (S.A.E.)

CASE:CIEB Stock Report

Market Cap: ج.م25.1b

Credit Agricole - Egypt Bank (S.A.E.) Valuation

Is CIEB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CIEB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CIEB (EGP20.1) is trading below our estimate of fair value (EGP26.83)

Significantly Below Fair Value: CIEB is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CIEB?

Key metric: As CIEB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CIEB. This is calculated by dividing CIEB's market cap by their current earnings.
What is CIEB's PE Ratio?
PE Ratio3.4x
Earningsج.م7.44b
Market Capج.م25.13b

Price to Earnings Ratio vs Peers

How does CIEB's PE Ratio compare to its peers?

The above table shows the PE ratio for CIEB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average3.1x
ADIB Abu Dhabi Islamic Bank - Egypt -E
3x1.9%ج.م23.7b
HDBK Housing and Development Bank- Egypt (S.A.E)
2.5x-5.4%ج.م28.2b
CANA Suez Canal Bank (S.A.E)
3.3xn/aج.م11.7b
FAITA Faisal Islamic Bank of Egypt
3.5xn/aUS$583.5m
CIEB Credit Agricole - Egypt Bank (S.A.E.)
3.4x4.0%ج.م25.1b

Price-To-Earnings vs Peers: CIEB is expensive based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (3.1x).

Price to Earnings Ratio vs Industry

How does CIEB's PE Ratio compare vs other companies in the African Banks Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CIEB 3.4xIndustry Avg. 5.1xNo. of Companies24PE0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CIEB is good value based on its Price-To-Earnings Ratio (3.4x) compared to the African Banks industry average (5.1x).

Price to Earnings Ratio vs Fair Ratio

What is CIEB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CIEB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.4x
Fair PE Ratio3.6x

Price-To-Earnings vs Fair Ratio: CIEB is good value based on its Price-To-Earnings Ratio (3.4x) compared to the estimated Fair Price-To-Earnings Ratio (3.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CIEB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentج.م20.10
ج.م31.89
+58.7%
11.8%ج.م38.20ج.م25.30n/a7
Dec ’25ج.م21.08
ج.م31.89
+51.3%
11.8%ج.م38.20ج.م25.30n/a7
Nov ’25ج.م20.62
ج.م29.21
+41.7%
9.2%ج.م32.55ج.م25.30n/a5
Oct ’25ج.م20.62
ج.م29.21
+41.7%
9.2%ج.م32.55ج.م25.30n/a5
Sep ’25ج.م20.00
ج.م30.21
+51.0%
11.0%ج.م35.20ج.م25.30n/a6
Aug ’25ج.م20.31
ج.م30.21
+48.7%
11.0%ج.م35.20ج.م25.30n/a6
Jul ’25ج.م18.98
ج.م29.74
+56.7%
11.6%ج.م35.20ج.م25.30n/a5
Jun ’25ج.م18.94
ج.م29.74
+57.0%
11.6%ج.م35.20ج.م25.30n/a5
May ’25ج.م18.49
ج.م26.47
+43.1%
25.7%ج.م35.20ج.م16.00n/a6
Apr ’25ج.م20.35
ج.م24.72
+21.5%
27.3%ج.م35.20ج.م16.00n/a6
Mar ’25ج.م23.33
ج.م24.72
+5.9%
27.3%ج.م35.20ج.م16.00n/a6
Feb ’25ج.م24.80
ج.م22.62
-8.8%
21.5%ج.م32.20ج.م16.00n/a6
Jan ’25ج.م22.00
ج.م21.80
-0.9%
22.6%ج.م32.20ج.م16.00n/a7
Dec ’24ج.م20.99
ج.م20.76
-1.1%
25.5%ج.م32.20ج.م15.80ج.م21.087
Nov ’24ج.م18.49
ج.م18.35
-0.8%
12.0%ج.م21.30ج.م15.80ج.م20.626
Oct ’24ج.م15.26
ج.م17.70
+16.0%
10.0%ج.م20.50ج.م15.80ج.م20.626
Sep ’24ج.م15.42
ج.م16.20
+5.0%
15.1%ج.م19.60ج.م11.50ج.م20.006
Aug ’24ج.م13.90
ج.م14.08
+1.3%
19.2%ج.م17.37ج.م11.30ج.م20.316
Jul ’24ج.م14.30
ج.م14.08
-1.6%
19.2%ج.م17.37ج.م11.30ج.م18.986
Jun ’24ج.م13.30
ج.م13.08
-1.7%
15.9%ج.م16.00ج.م11.30ج.م18.945
May ’24ج.م10.28
ج.م11.31
+10.0%
19.2%ج.م15.20ج.م9.24ج.م18.495
Apr ’24ج.م8.49
ج.م10.27
+20.9%
9.4%ج.م11.50ج.م9.24ج.م20.355
Mar ’24ج.م10.40
ج.م9.49
-8.8%
9.1%ج.م11.30ج.م8.30ج.م23.338
Feb ’24ج.م9.68
ج.م9.26
-4.4%
6.2%ج.م10.00ج.م8.30ج.م24.807
Jan ’24ج.م8.46
ج.م9.26
+9.5%
5.8%ج.م10.00ج.م8.30ج.م22.008
Dec ’23ج.م8.48
ج.م9.26
+9.2%
5.8%ج.م10.00ج.م8.30ج.م20.998

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 06:39
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Credit Agricole - Egypt Bank (S.A.E.) is covered by 13 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Hany AmerArab African International Securities
Jaap MeijerArqaam Capital Research Offshore S.A.L.
Abanob MagdyBeltone Financial