QNB Egypt nears EGP 1tn in customer deposits after EGP 175bn surge in 9 months

Qatar National Bank (QNB) Egypt has strengthened its position in Egypt’s banking deposit market through a strategy focused on offering savings products tailored to different customer segments, including corporate and retail clients.

This was reflected in a 22.5 per cent increase in its customer deposit portfolio, which expanded by more than EGP 175bn during the first nine months of 2026 to reach EGP 954.74bn at end-September, compared with EGP 779.31bn at end-December 2025.

Corporate deposits were the primary driver of this expansion, rising 22.6 per cent during the period under review to EGP 602.87bn at end-September 2026, compared with EGP 491.70bn at year-end 2025, an increase of EGP 111.17bn.

This increase accounted for approximately 63.4 per cent of the total growth in customer deposits, reaffirming the pivotal role of corporate banking in strengthening the bank’s funding base.

Retail deposits also maintained their upward trajectory, reaching EGP 351.87bn at end-September 2026, compared with EGP 287.61bn at year-end 2025, representing growth of 22.3 per cent and an increase of EGP 64.26bn.

Retail deposits contributed approximately 36.6 per cent of the total increase in customer deposits, reflecting the contribution of both corporate and retail banking to the expansion, while corporate deposits retained the largest share of the absolute increase.

As the deposit base expanded, the growth in funding resources was reflected in the volume of loans extended to customers.

QNB Egypt’s customer loan portfolio rose to approximately EGP 547.16bn at end-September 2026, compared with EGP 464.84bn at end-December 2025, recording growth of 17.7 per cent and an increase of EGP 82.31bn.

Deposit growth also supported the expansion of the bank’s balance sheet, with QNB Egypt’s total assets rising 21.6 per cent during the first nine months of 2026 to EGP 1.11tn at end-September, compared with EGP 915.56bn at year-end 2025, an increase of EGP 197.51bn.

The increase in customer deposits was equivalent to approximately 88.8 per cent of the growth in total assets, underscoring the importance of deposits in supporting the expansion of the bank’s balance sheet.

QNB Egypt is consequently approaching a new milestone in its growth, with customer deposits surpassing EGP 950bn, supported by relatively balanced growth rates across corporate and retail deposits, although corporate deposits continued to account for the larger share of the absolute increase.

Crossing the EGP 1tn threshold represents the next milestone, while its broader significance will depend on the bank’s ability to sustain deposit growth alongside the efficient deployment of these resources across lending and investment activities.