QNB Al Ahli’s resource employment rate decrease to 87% by Sep-2023 end
First Bank
According to QNB Al Ahli's separate financial statements, signifies a relative decline in the bank's resource employment rate, dropping to 87% by the end of the third quarter of the current year, compared to 88.25% at the end of the previous year, reflecting a decrease of approximately 1.25%.
This indicator, introduced by the research center affiliated with First Bank, measures the traditional resource employment rate (deposits + equity) in (loans + financial investments) at banks operating in the Egyptian banking sector.
The decline in this rate during the first 9 months of 2023 indicates Qatar National Bank Al Ahli's conservative policy towards resource utilization during this period. The bank employed EGP 486.24 bn of its traditional resources, which amounted to EGP558.97 bn at the end of the third quarter of 2023, in both financial investments (EGP226.47 bn) and total customer loans (EGP259.76 bn).
In contrast, the bank employed EGP405.63 bn of its traditional resources, which amounted to EGP459.65 bn at the end of December 2022, in loans (EGP174.86 bn) and financial investments (EGP230.77 bn) for customer loans.
By the end of September 2023, the bank's traditional resources were distributed between a deposit portfolio value of EGP498.34 bn and equity amounting to EGP60.63 bn.
The percentage of deposits employed for granting loans at the bank decreased to 52.13% by the end of the third quarter of 2023, compared to 56.69% at the end of 2022.
Meanwhile, the percentage of deposits employed for financial investments increased to 45.45% by the end of September 2023, compared to 43% at the end of the previous year.
The bank's employment index decline during the third quarter of 2023 further sets it apart from the average of the Egyptian banking sector, as the employment index for the banking sector was approximately 90.53% at the end of April 2023, according to the latest data from the Central Bank of Egypt.
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