QNB Al Ahli's net profit grows by 119.7%, records EGP4.481 bn, during Q1-2023

The separate financial statements of Qatar National Bank Al Ahli (QNB) revealed on March 31, on the bank’s website, that the bank’s net profit increased by a growth rate of 119.67% during the first quarter of this year, to record EGP 4.481 bn during the first quarter of 2023, compared to EGP 2.040 bn during the same period of 2022.

Total loans and facilities to customers increased by a growth rate of 7.42% during the first quarter of last year, an increase of EGP17.1 bn, to reach EGP 247.9 bn at the end of March 2023, compared to EGP 230.8 bn at the end of December 2022.

Total deposit portfolio of the bank’s customers increased by a growth rate of 8.85% during the first quarter of this year, after the bank was able to increase its deposits by EGP36.04 bn, to record EGP443.1 bn at the end of March 2023, compared to EGP 407.1 bn at the end of December 2022.

Total assets of the bank increased by 8.52% during the first quarter of this year, to record EGP 517.4 bn at the end of March 2023, compared to EGP476.8 bn at the end of December 2022, an increase of EGP40.6 bn.