Qatar National Bank Al-Ahli was able to achieve strong net profits during the current year, as it jumped by 11

Analysis

What are the most profitable geographical sectors from QNB Al Ahli’s net profit ?

5/22/2023 10:05:04 AM

Qatar National Bank Al-Ahli was able to achieve strong net profits during the current year, as it jumped by 119.67%, to record EGP4.48 bn during the first 3 months of 2023, compared to EGP 2.04 bn during the same period of 2022.

The net profit of QNB Al Ahli from its main office reached EGP2.52 bn during the first quarter of 2023, compared to EGP1.18 bn during the same period of 2022, an increase of EGP1.34 bn.

QNB Al Ahli main office acquired 56.14% of the bank’s net profits during the first quarter of 2023.

While its net profits from Greater Cairo sectors recorded EGP1.54 bn during the first quarter of 2023, 34.33% of the bank’s net profits, after it increased from EGP669.19 mn during the first quarter of 2022, achieving a growth rate of 129.90%, and an increase of EGP869.30 mn.

Its net profit from Delta sectors was the fastest growing, as it jumped by 285.75%, recording EGP191.89 mn during the first quarter of 2023, compared to EGP49.75 mn during the same period in 2022, an increase of EGP142.15 mn, acquiring 4.28% of the net bank profits during the same period.

The bank’s net profit from Alexandria sectors increased to EGP276.07 mn during the first quarter of 2023, to EGP131.31 mn during the same period of 2022, achieving a growth of about 110.25%, and an increase of EGP144.77 mn.

Alexandria sector acquired 6.16% of the bank's net profit during the first quarter of 2023.

While the bank’s profits were not affected by the losses of South and Red Sea sectors, which reached EGP41.08 mn during the first quarter of 2023.