Mohamed Bedeir leads QNB ALAHLI to fastest annual growth in deposit portfolio in 6 years

 2022 was an exceptional year for Qatar National Bank Al Ahli, as the bank was able to achieve huge increases in its savings pools portfolio, recording the fastest annual growth in the bank’s deposits portfolio in 6 years, Thanks to Mohamed Bedeir, QNB Al Ahli’s CEO.

The bank’s deposit portfolio jumped from EGP 296.24 bn at the end of 2021 to EGP 407.07 bn at the end of 2022, achieving a growth rate of 37.41%, and an increase of EGP 110.83 bn.

The bank achieved in 2021 a growth of  26.66% in its deposits portfolio, while the bank achieved a growth in 2020 of 11.88%, 0.83% in 2019, and 11.07% during 2018, as for 2017, growth rate reached 16.75%.

Corporate deposits portfolio jumped by about 53.34%, until it reached EGP262.39 bn by the end of 2022, compared to EGP171.11 bn by the end of 2021, an increase of EGP 91.27 bn.

Individual deposits increased from EGP68.39 bn at the end of 2021 to EGP 81.32 bn at the end of 2022, achieving a growth rate of 18.92%, and an increase of EGP12.94 bn

The bank is interested in digital transformation,  directs and urges  customers to use electronic banking services, which have proven to be highly efficient in facilitating work, as a continuation of the bank's efforts towards supporting financial inclusion and digital transformation, and in line with the strategy of the state and the Central Bank of Egypt to cope with global development in providing banking services.

The bank also offered many distinctive savings certificates and pools during 2022, as last May it offered a triple certificate with a fixed return of 13.5%, spent monthly or a fixed return of 13.75% paid quarterly, issued a certificate in November of the same year with Triple interest rate ranging from 16% annually with a monthly return exchange period, 16.25% with a quarterly return exchange period, and 17.25% with an annual return exchange period, according to CBE's decisions to raise interest rates during 2022.