QNB Al Ahli's financing for service corporates jump by 16.57% during 2022

QNB Al Ahli's financing for service corporates witnessed a remarkable growth during 2022, as it jumped by 16.57%, to record EGP57.72 bn at the end of last year, and EGP49.52 bn at the end of 2021, an increase of EGP8.20 bn.

The bank’s financing for service corporates through debit current accounts increased by 23.13%, to reach EGP33.29 bn at the end of 2022, compared to EGP27.04 bn at the end of 2021, an increase of EGP6.25 bn.

Service corporates acquired 36.78% of the bank’s debit current account portfolio, which increased by 25.29%, to record EGP 90.53 bn at the end of 2022, compared to EGP 72.26 bn at the end of 2021, an increase of EGP 18.27 bn.

The bank strengthened its financing for service corporates through direct loans, to jump from EGP 11.52 bn at the end of 2021, to EGP 12.46 bn by the end of 2022, achieving a growth rate of 8.15%, and an increase of EGP 938.39 mn.

Service corporates obtained 17.83% of the bank’s total direct finance, which increased by 21.88%, to record EGP69.87 bn at the end of 2022, compared to EGP57.32 bn at the end of 2021, an increase of EGP12.54 bn.

The bank’s loans to service corporates through syndicated loans witnessed a slight increase over the past year, increasing by  3.90%, to reach EGP10.87 bn at the end of 2022, compared to EGP10.46 bn at the end of 2021, an increase of EGP408.05 mn.

Service corporates acquired 48.51% of the bank’s total syndicated loans at the end of 2022, which rose to EGP22.41 bn at the end of 2022, compared to EGP 15.97 bn at the end of 2021, an increase of EGP6.45 bn.

The bank’s loans to service corporates  from other loans jumped by 122.43%, to record EGP 1.1 bn at the end of 2022, compared to EGP 493.57 mn at the end of 2021, an increase of EGP 604.29 mn.

Service corporates acquired 40.21% of the total financing from other loans.

Other loans to various corporates with the bank declined by  7%, to record EGP 2.7 bn pounds at the end of 2022, compared to EGP2.94 bn at the end of 2021.

The bank’s total financing to service corporates through various products acquired 31.11% in corporates' total loans.

The bank's corporate loans jumped by 24.96% to reach EGP 185.54 bn by the end of 2022, compared to EGP 148.49 bn by the end of 2021, an increase of EGP37.06 bn.

While the bank’s total loans to service corporate through the bank’s various products acquired 25.01% to the bank’s total customer loans, which jumped to EGP230.77 bn at the end of 2022, compared to EGP184.79 bn at the end of 2021, a growth rate of 24.88%, and an increase of EGP 45.98 bn.