How QNB ALAHLI's net loans distributed among different currencies, After reaching EGP233.32 bn by Q1-2023end

6/21/2023 11:12:00 AM

The financial results of Qatar National Bank Al Ahli revealed a 7.73% increase in the bank's net loans, reaching EGP233.32 bn by the end of the first quarter of 2023, compared to EGP216.59 bn by the end of 2022, with an increase of EGP16.73 bn.

In light of this significant growth, First Bank monitors the development of QNB ALAHLI net loans in different currencies during the first quarter of 2023 and the share of each currency from the total portfolio.

Local Currency

Customer loans in local currency increased from 166.51 bn at the end of 2022 to EGP 171.12 bn at the end of March 2023, with a growth rate of 2.77% and an increase of EGP4.61 bn

The bank’s customer loans in EGP accounted for about 73.34% of the bank's net loans by the end of the first quarter of 2023.

Foreign Currencies

Customer Net loans in foreign currencies jumped by 24.21% to reach EGP62.20 bn by the end of the first quarter of 2023, compared to EGP50.08 bn by the end of 2022, with an increase of EGP12.13 bn.

Customer loans in foreign currencies accounted for 26.66% of the bank's net loans by the end of the first quarter of 2023.

The bank's financing for customers in B

pound sterling witnessed the fastest growth during the first 3 months of 2023, soaring by 224.89% to reach EGP187.78 mn by the end of last March, compared to EGP 57.8 mn by the end of 2022, with an increase of the equivalent of EGP129.99 mn.

It is worth mentioning that despite the significant growth in the bank's financing in pound sterling, it represents 0.08% of its total customer loans by the end of the first quarter of 2023.

Loans in US dollars increased by a growth rate of 23.13% to reach EGP 58.43 bn by the end of March 2023, compared to EGP 47.45 bn by the end of 2022, with an increase of EGP 10.98 bn.

Customer loans in US dollars accounted for about 25.04% of the bank's net loans by the end of the first quarter of 2023.

The bank significantly strengthened its financing for clients in Euro, which increased to EGP3.53 bn by the end of March 2023, compared to EGP 2.55 bn by the end of 2022, with a growth rate of 38.46% and an increase of EGP 980.51 mn.

Customer loans in Euro accounted for about 1.51% of the bank's net loans by the end of the first quarter of 2023.

Customer loans in other foreign currencies increased by 257.18% to reach EGP52.26 mn by the end of March 2023, compared to EGP 14.63 mn, with an increase of EGP 37.63 mn.

The bank achieved a good performance, as net profits increased by a growth rate of 119.67% during the first quarter of the current year, reaching EGP 4.481 bn during the first quarter of 2023, compared to EGP2.040 bn during the same period in 2022.

Deposit portfolio also increased by a growth rate of 8.85%, as the bank was able to increase its deposits by EGP36.04 bn, reaching EGP443.1 bn by the end of March 2023, compared to EGP407.1 bn by the end of 2022.

Total assets increased by 8.52%, reaching EGP517.4 bn by the end of March 2023, compared to EGP476.8 bn by the end of 2022, with an increase of EGP40.6 bn.