Mohamed Badir pushes QNB Egypt to achieve the fastest annual growth rate in its net profit during the last decade

Since assuming executive leadership in QNB Egypt, the Bank has undergone a strategic transformation. He has developed a clear strategic vision based on the expansion of credit to customers and the strengthening of digital banking services. This has contributed to the Bank's unprecedented net profit growth over the past year, thus registering the fastest annual growth rate in the last decade.

In this article of "Decision Makers", we address the role of Mohamed Badir and the impact of his distinctive strategy on the financial performance of QNB, enhancing the Bank's ability to generate strong returns while maintaining financial sustainability, leading to remarkable growth in the customer base and increasing their loyalty, thereby maximizing profitability rates to continue the Bank as one of the largest banking institutions in the Egyptian market.

QNB Egypt's net profits jumped by 63.64% over the past year, registering EGP 25.806 billion in 2024, compared to EGP 15.769 billion in 2023, bringing an increase of EGP 10.036 billion, the highest ever value in the bank's net profits.

The bank experienced the second fastest annual growth rate in net profit in 2023 at 55.76% and an increase of EGP 5.645 billion, registering EGP 15.769 billion in 2023, compared to 10.124 billion in 2022.

In terms of growth rates in the past years, the Bank recorded growth of 35.86% in its net profit in 2022, while growth of 0.72% in 2021, and a decline of -11.09% in 2020.

The Bank also achieved a growth rate of 20.30% in net profits during 2019, while recorded growth rates of 30.68%, 31.24%, 30.95% and 40.10% in the years following 2018, 2017, 2016 and 2015 respectively.

This unprecedented growth in the bank's net profits is attributable to the fact that QNB Egypt has been able to double its total customer loans by more than 7 times over the last decade thanks to the distinctive strategic leadership of Mohammed Badir, it recorded record growth in its portfolio volume after jumping 623% and achieving an increase of EGP 314.76 billion. It reached EGP 365.29 billion by the end of December 2024, compared to EGP 50.53 billion by the end of December 2014.

The Bank's financial performance over the past year reflects strong trends towards inclusive and sustainable growth, with QNB registering remarkable growth rates and the largest ever increase in many major financial indicators, reflecting Badir's ambitious strategy and vision for the future to strengthen the Bank's position in the Egyptian banking market.

During 2024, QNB Egypt experienced a growth in net income from its yield after rising by 33.02% and an increase of EGP 10.033 billion, registering EGP 40.415 billion, compared to EGP 30.382 billion in 2023.

The Bank's net fee and commission income increased from EGP 4.014 billion in 2023 to EGP 5.686 billion in 2024, generating growth of 42% and an increase of EGP 1.672 billion last year.

In conclusion, as the Bank continues to adopt a proactive approach to keep abreast of the Egyptian banking sector's economic and technological developments, it has strong potential to sustain this momentum in the coming years.