Retail Index: Mortgage Loan Portfolio at «QNB Egypt» Records a Historic Growth of 485% Over the Last 5 Years
The standalone financial statements of Qatar National Bank «QNB» Egypt revealed a significant expansion in mortgage lending over the past five years, with the portfolio increasing by 485% to reach 12.63 EGP bn by the end of March 2026, compared to 2.16 EGP bn at the end of 2020, achieving an absolute increase of more than 10 EGP bn. Tracking the portfolio performance during the analysis period shows that it recorded its highest annual growth rate in 2022, rising by 68% to reach 4.77 EGP bn by the end of 2022, compared to 2.85 EGP bn at the end of 2021. The mortgage portfolio also recorded its second-highest annual growth rate in 2025, increasing by 42% to reach 11.94 EGP bn by the end of December 2025, compared to 8.40 EGP bn at the end of 2024. During the first quarter of 2026, the portfolio grew by 6% to reach 12.63 EGP bn by the end of March 2026. Alongside the growth in mortgage lending, «QNB» Egypt delivered strong financial performance in Q1 2026, posting net profits of 8.86 EGP bn compared to 6.95 EGP bn in Q1 2025, recording a growth rate of 27%. Net interest income increased by 24% during the first three months of 2026, reaching 13.68 EGP bn compared to 11 EGP bn in the same period of 2025. Net fee and commission income recorded 1.63 EGP bn in Q1 2026. On the balance sheet side, total assets grew by 12% during the first quarter of 2026, reaching 1.03 trillion EGP by the end of March 2026, compared to 915.56 EGP bn at the end of 2025. Customer deposits increased by 13% during Q1 2026, reaching 880.94 EGP bn compared to 779.31 EGP bn at the end of 2025. Customer loans also increased by 6% during the same period, reaching 465.92 EGP bn by the end of March 2026, compared to 440.65 EGP bn at the end of 2025.
