QNB Al Ahli growth slow-down to 17.18% during Q2-2023

Qatar National Bank Al Ahli's growth slow-down during the second quarter of 2023, recording a compound growth rate of 17.18%, compared to 36.12% during Q1-2023.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q2-2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 57.21% during Q2-2023.

It also achieved a growth in total loans and facilities to customers at a rate of 2.45% during Q2-2023, and an increase in both asset and deposit portfolios by 5% and 4.05%, respectively, at the same period.

The bank’s net profits also increased on First Bank composite growth index during Q1-2023 to achieve a growth rate of 119.67%.

The bank’s Total loan portfolio increased by 7.42% during Q4-2022, asset as well as deposit portfolios increased by 8.52% and 8.85%, respectively, at the same period.

It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.