QNB Egypt deposits triple to EGP 910bn under Mohamed Bedeir

8/17/2026 1:27:13 PM

Mohamed Bedeir, chief executive officer of QNB Egypt

Customer deposits rose 207.3% over four and a half years, led by faster growth in corporate deposits.

QNB Egypt’s customer deposit base more than tripled between end-2021 and end-June 2026, rising 207.3 per cent to EGP 910.37 billion from EGP 296.24 billion, according to FirstBank analysis of the bank’s statements.

The deposit base increased by EGP 614.13 billion during Mohamed Bedeir’s tenure as chief executive officer since September 2021.

Corporate deposits reshape the funding mix

Corporate deposits were the main driver of growth, rising about 237 per cent to EGP 576.63 billion at end-June 2026, from EGP 171.11 billion at end-2021.

Increasing by EGP 405.52 billion over the period, corporate deposits accounted for 63.34 per cent of total customer deposits at end-June 2026, up from 57.76 per cent at end-2021, a rise of 5.58 percentage points.

Retail deposits rose 166.7 per cent to EGP 333.74 billion, from EGP 125.13 billion at end-2021, an increase of EGP 208.61 billion. They represented 36.66 per cent of total customer deposits at end-June 2026.

Corporate deposits therefore expanded faster than retail deposits, increasing their weight in QNB Egypt’s customer deposit mix and remaining its largest deposit segment.

Earnings momentum continues in H1 2026

QNB Egypt maintained earnings growth in the first half of 2026, with net profit rising 20.4 per cent year-on-year to EGP 17.79 billion, from EGP 14.77 billion in H1 2025.

Net interest income increased 23.2 per cent to EGP 28.43 billion, compared with EGP 23.09 billion a year earlier.

Net fee and commission income rose 4.4 per cent to EGP 3.41 billion, from EGP 3.26 billion in H1 2025.

Assets cross EGP 1tn

Total assets increased 16 per cent in the first half of 2026 to EGP 1.06 trillion at end-June, from EGP 915.56 billion at end-2025.

Gross loans and credit facilities to customers rose 11.6 per cent over the same period to EGP 518.91 billion, from EGP 464.84 billion at end-2025.

The figures show that QNB Egypt’s expansion extended beyond deposits, with growth across its balance sheet and core earnings indicators in the first half of 2026.