QNB Al Ahli grows by 30.84% on First Bank Composite Growth Index during H1-2023

The latest business results of Qatar National Bank Al Ahli- QNB issued on the bank's website yesterday, which ended on June 30, 2023, revealed that the bank recorded a compound growth rate of 30.84% during the first half of this year.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to June 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 86.09% to record EGP 8.212 bn during H1- 2023, compared to EGP 4.413 bn at the same period 2022, with an increase of EGP 3.799 bn.

Furthermore, the bank's Total asset came in second place with a growth rate of 13.95% during the first half of current year, bringing the total portfolio from EGP 476.8 bn at the end of December 2022 to reach EGP 543.3 bn at the end of June 2023, achieving an increase of EGP 66.5 bn.

The bank's Total customer loans achieved a growth rate of 10.05% to reach EGP 254 bn by the end of June 2023, compared to EGP 230.8 bn by the end of 2022، with an increase of EGP 23.2 bn.

In addition, Total customer deposit portfolio Jumped to record EGP 461.1 bn by the end of June 2023, compared to EGP 407.1 bn by the end of 2022, achieving a growth rate of 13.26%, and an increase of EGP 54 bn.