Boom in QNB ALAHLI’s financing for industrial corporate; loans jump to EGP 114.66 bn, by March-2023end

Qatar National Bank Al Ahli has significantly strengthened its financing for industrial corporate during the current year through many of its various products that it offers to its institutional clients, which is evident from the large increases in its portfolio.

QNB ALAHLI’s financing for industrial corporate jumped from EGP 94.69 bn at the end of 2022 to EGP 114.66 bn at the end of March 2023, with a growth rate of 21.10%, an increase of EGP 19.97 bn.

In light of this remarkable growth, First Bank monitors the development of QNB ALAHLI financing for industrial corporate through the bank’s various products during the first quarter of 2023.

Qatar National Al-Ahly Bank expanded in providing loans to industrial corporate through syndicated finance during the first quarter of this year, as its financing jumped to EGP 20.5 bn at the end of March 2023, compared to EGP 10.79 bn at the end of 2022, a growth rate of 90.03%, and an increase of EGP 9.71 bn.

In this regard, industrial corporate acquired 84.26% of the bank’s syndicated finance portfolio, which increased by 8.53%, to record EGP 24.33bn at the end of March 2023, compared to EGP 22.4bn at the end of 2022, an increase of EGP 1.91bn.

QNB ALAHLI’s financing for industrial enterprises through debit current accounts also witnessed a remarkable growth during the first quarter of this year, as it increased by about 15.69%, recording EGP44.43 bn at the end of March 2023, compared to EGP38.40 bn at the end of 2022, an increase of EGP6.02 bn.

Acquired 43.90% of the bank’s debit current account portfolio, which increased by 11.77% during the first three months of 2023, until it reached EGP 101.19 bn at the end of last March, compared to EGP90.53 bn at the end of 2022, an increase of EGP 10.65 bn.

As for QNB ALAHLI’s direct financing for industrial corporate, it jumped from EGP44.15 bn at the end of 2022 to EGP48.34 bn at the end of March 2023, with a growth rate of 9.50%, and an increase of EGP4.19 bn.

QNB ALAHLI’s direct loans to industrial corporate acquired 66.90% of the bank’s total direct financing by the end of March 2023.

The bank's direct loan portfolio jumped by 3.42%, to reach EGP 72.254 bn at the end of March 2023, compared to EGP69.87 bn at the end of 2022, an increase of EGP2.39 bn.

As for the bank’s financing of industrial corporate through other loans, it increased from EGP 1.35 bn at the end of 2022 to EGP 1.40 bn at the end of March 2023, with a growth rate of 3.46%, an increase of EGP 46.91 mn.

The bank's other loans to industrial corporates acquired 46.37% of the bank’s total other financing by the end of the first quarter of 2023.

The bank’s financing for industrial corporate through various products contributed about 57.11% to total corporate loans portfolio by the end of March 2023.

The bank’s financing for corporates jumped from EGP 185.54 bn at the end of 2022 to EGP 200.79 bn at the end of March 2023, achieving a growth rate of 8.22%, and an increase of EGP 15.25 bn.

While QNB ALAHLI loans to industrial corporates through the bank’s various products contributed by about 46.26% to the bank’s total customer loans, which jumped by about 7.4%, an increase of EGP17.1 bn, to reach EGP 247.9 bn by the end of March 2023, compared to EGP230.8 bn by the end of 2022.