What are the activities that QNB ALAHLI more inclined to grant credit for?
First Bank
Qatar National Bank Al Ahli continued its support for various corporates in the first 9 months of the current year, following its policy aimed at backing diverse economic activities, recognizing their significant impact on national economic growth.
This substantial interest is reflected in a financing increase of EGP23.05 bn, reaching a total portfolio of EGP208.59 bn by the end of September 2023. The bank ranks fourth on First Bank’s list of fastest-growing listed banks in corporate loans during the first 9 months of the current year.
The bank increased its credit to industrial corporates to 57.93%, up from 51.03% in 2022, in acknowledgment of the importance of supporting them amid current economic conditions.
Industrial corporate financing surged by 27.61%, reaching EGP120.83 bn by the end of September 2023, compared to EGP94.69 bn in 2022.
Qatar National Bank Al Ahli relatively reduced its credit policy towards service corporates, with its relative weight decreasing to 27.02% by the end of the third quarter of 2023, down from 31.11% in 2022.
Financing for service corporates amounted to EGP56.4 bn by September 2023, compared to EGP57.7 bn in 2022.
The relative weight of commercial corporates’ financing decreased to 13.39% by the end of the third quarter of the current year, down from 16.09% in December 2022.
Financing for commercial corporates reached EGP27.9 bn by September 2023, compared to EGP29.9 bn in 2022.
As for the relative weight of agricultural corporates’ financing, it amounted to 1.44% of the total bank loans to corporates by the end of September 2023, down from 1.65% in 2022.
Financing for agricultural corporates reached EGP3.01 bn by the end of the third quarter of 2023, while loans to other corporates amounted to EGP461.57 mn in the same period.
Qatar National Bank Al Ahli’s policies regarding institutional financing led to strong growth in the total bank loans to customers, with corporate loans contributing a significant 80.30% to the total customer financing.
It’s worth noting that the total portfolio of customer loans and facilities at the bank increased by a growth rate of 12.57%, with an increase of about EGP29 bn during the first 9 months of the current year, reaching approximately EGPGP 259.76 bn by the end of September 2023, compared to EGP 230.77 bn at the end of the same period in 2022.
