QNB Al Ahli’s growth accelerates by 31.9% during Q4-22

 

QNB Al Ahli’s growth accelerates during the fourth quarter of 2022, recording a compound growth rate of 31%, compared to a compound growth rate of 15.49% during Q3-2022.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2022.

The bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 100.82% during Q4-2022.

It also achieved a growth in total loans and facilities to customers at a rate of 7.02% during Q4-2022 and an increase in both assets and deposits portfolios by 5.15% and 8% respectively.

The bank’s net profits has also seen an increase in First Bank composite growth index during Q3-22 it achieved a growth of 36.59%.

Moreover, total customer loans increased by 3.74% during Q3-22. The assets as well as deposits portfolios increased by 10.13% and 11.48%, respectively,at the same period.

It should be noted that all figures and growth rates included in the analysis are according to separate financial statements on the official website of the bank.