QNB Al Ahli's net profits grow by 86.09%, reaching EGP 8.212 bn during H1-2023
First Bank
The latest financial results of Qatar National Bank Al Ahli (QNB) released today on the Egyptian Stock Exchange website revealed a significant increase in the bank's net profits, with a growth rate of 86.09% during the first 6 months of the current year.
The bank recorded EGP 8.212 bn in net profits during the first half of 2023, compared to EGP 4.413 bn during the same period in 2022, reflecting an increase of EGP 3.799 bn.
Pre-tax profit in the bank also soared by 83.80%, reaching EGP 12.013 bn during the first half of 2023, compared to EGP 6.536 bn during the first half of 2022, marking an increase of EGP 5.477 bn.
The bank's total assets witnessed a growth rate of 13.95%, with an increase of EGP 66.5 bn during the first half of the current year, reaching EGP 543.3 bn by the end of June 2023, compared to EGP 476.8 bn by the end of December 2022.
Furthermore, the bank succeeded in increasing the total portfolio of customer deposits by EGP 54 bn, growing at a rate of 13.26% during the first half of the current year, amounting to EGP 461.1 bn by the end of June 2023, compared to EGP 407.1 bn by the end of December 2022.
Additionally, the bank extended more credit to its customers, as total portfolio of loans and facilities granted to customers increased by 10.05%, with a growth of EGP 23.2 bn during the first half of the current year. This resulted in a total of EGP 254 bn by the end of June 2023, compared to EGP 230.8 bn by the end of December 2022.
