Triumphant Success: Mohamed Bedeir Pioneers Unwavering Leadership at QNB Al Ahli, Propelling Astounding Growth Rates

With over 31 years of banking experience, Mohamed Bedeir  has successfully led QNB Al Ahli Bank, one of the most important banks in the Egyptian banking sector, with steady steps, proving his efficiency by achieving strong performance and the strongest growth rates in recent years.

First Bank highlights the bank's key indicators since Mohamed Bedeir assumed the executive leadership in September 2021.

Bedeir has significantly strengthened the bank's financial position, with total assets surpassing EGP 517.44 bn by the end of March 2023, compared to EGP 354.2 bn by the end of 2021, representing a growth rate of 46.09% and an increase of EGP 163.24 bn.

He also succeeded in increasing the total portfolio of the bank's loans and facilities for clients, reaching EGP 247.88 bn by the end of the first quarter of 2023, compared to EGP 184.79 bn by the end of 2021, with a growth rate of 34.14% and an increase of EGP 63.09 bn, maintaining its position as the largest private sector lender in Egypt.

QNB Al Ahli particularly relies on corporate financing, a factor that Mohamed Bedeir has preserved. He successfully maintained the bank's loans to corporates as a percentage of total loans at 81% by the end of March 2023, compared to 80.35% by the end of 2021.

Under Bedeir's leadership, loans to corporates witnessed a significant increase of about 35.22%, reaching EGP 200.79 bn by the end of the first quarter of the current year, compared to EGP 148.49 bn by the end of 2021, an increase of EGP 52.30 bn in just 15 months. This played a vital role in the overall increase in the bank's financing.

Despite the focus on corporate financing, Badr did not neglect retail financing. This is reflected in the rise of the bank's retail loans to EGP 47.09 bn by the end of March 2023, compared to EGP 36.30 bn by the end of 2021, with a growth rate of 29.72% and an increase of EGP 10.79 bn.

Mohamed Bedeir succeeded in gaining the trust of more clients for the bank, not only retaining existing clients but also attracting new segments. This was achieved by introducing competitive savings products that cater to the needs of all clients and align with the Egyptian banking market conditions.

This is evident in the significant growth of the bank's customer deposits portfolio, which reached EGP 443.11 bn by the end of the first quarter of 2023, compared to EGP 296.24 bn by the end of 2021, with a growth rate of 49.58% and an increase of EGP 146.87 bn.

Deposit portfolio growth was mainly driven by the increase in corporate deposits, which rose by 68.49%, reaching EGP 288.31 bn by the end of March 2023, compared to EGP 171.11 bn by the end of 2021, an increase of EGP 117.2 bn.

Retail deposits also played a significant role, rising from EGP 125.13 bn by the end of 2021 to EGP 154.8 bn by the end of the first quarter of 2023, with a growth rate of 23.71% and an increase of EGP 29.67 bn.

This exceptional performance of the bank under the leadership of Mohamed Bedeir led to achieving its fastest quarterly profit growth in 8 years. The bank's net profits jumped by 119.67% to reach EGP 4.48 bn during the first 3 months of 2023, compared to EGP 2.04 bn during the same period in 2022.

This comes after years of limited or declining growth, as the bank achieved a growth rate of 12.42% in net profits during the first quarter of 2022, while experiencing a decline of 5.52% during the same quarter of 2021. In contrast, the corresponding period in 2020 witnessed a slight growth of 0.44% influenced by the repercussions of the global pandemic declared at the end of that quarter.

Mohamed Bedeir's experience has received praise from various international platforms, including the latest recognition by Global Banking & Finance Review magazine. The bank received 6 awards, including Best Retail Bank in Egypt, Best Treasury Bank in Egypt, Best Trade Finance Bank in Egypt, Best Bank in Egypt for Medium and Small Project Financing, and Best Bank in Egypt for Digital Services in 2023.