QNB Al Ahli’s growth accelerates to 36.11% during Q1-23

QNB Al Ahli’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 36.11%, compared to a compound growth rate of 25.86% during Q4-2022.

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 Q1-2023.

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 119.66% during Q1-2023.

It also achieved a growth in total loans and facilities to customers at a rate of 7.42% during Q1-2023 and an increase in both assets and deposits portfolios by 8.52% and 8.85% respectively at the same period 2023.

The bank’s net profits has also seen an increase in First Bank composite growth index during Q4-22 it achieved a growth of 80.26%.

Moreover, total customer loans increased by 7.02% during Q4-22, Asset as well as deposit portfolios increased by 8.15% and 8%, 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.