QNB Al Ahli's Retail Portfolio Soars to EGP48.3 Bn, Targets EGP19 Bn in New retail Financing by 2024

Ayman Gamgoum, Head of Retail Banking and Small and Medium Enterprises Projects at QNB Alahli, stated that the bank's retail loan portfolio reached approximately EGP 48.3 bn in June 2023.

The bank aims to inject EGP 19 bn in new retail financing by the end of 2024.

 Gamgoum made these remarks in an exclusive statement to First Bank's website during the 17th edition of the People and Banks Conference on October 25, focusing on "The Road to Sustainability and Green Economy."

He also mentioned the bank's plans to increase the portfolio of medium and small-sized projects by around EGP 9 bn in the coming year.

QNB Alahli recently introduced several environmentally friendly products and plans to launch a new product in the upcoming period.

It's worth mentioning that the bank's retail portfolio increased by a growth rate of 6.84%, with an increase of about EGP3.1 bn in the first half of the current year, reaching EGP 48.3 bn by the end of June 2023, compared to EGP45.2 bn by the end of December 2022.