How QNB AL AHLI deposit portfolio distributed between different currencies by September- 2023 End
First Bank
Qatar National Bank Al Ahli managed to achieve remarkable growth in its customer deposit portfolio this year, jumping by 22.42%, and an increase of EGP 91.3 bn by the end of the Q3, after registering EGP 498.34 bn by the end of September, compared to EGP 407.07 bn by the end of last year.
The significant increase in the Bank's customer deposit portfolio ensured that it would secure the third position in fastest-growing listed banks in customer deposits list during the first 9M 2023.
First Bank reports the growth achieved in the customer deposit portfolio in different currencies by the end of September 2023.
QNB's local currency deposits increased by 16.6%, registering EGP 385.4 bn by the end of the Q3 of 2023, compared to EGP 330.6 bn by the end of 2022, with an increase of EGP 54.8 bn.
Deposits in EGP has lion share of total customer deposits at a relative weight of 77.34% by the end of September 2023.
In terms of foreign currency deposits, the Bank has achieved an increase of 47.7% and an increase of about EGP 36.5 bn, registering the equivalent of EGP 112.9 bn by the end of September 2023, compared to EGP 76.5 bn by the end of December 2022.
As for the relative weight of customer deposits in foreign currencies increased to 22.66% of total Bank customer deposits from January to September 2023 against 18.78% at the end of December 2022.
deposits in U.S. dollars were in terms of size among deposits in foreign currencies, with relativeI weight rising to 20% of the total customer deposits of the bank by the end of September 2023, compared to 16% by the end of 2022.
In addition, deposits in U.S. dollars rose to the equivalent of EGP 98.8 bn by the end of the Q3- 2023, compared to EGP 67 bn by the end of last year, with an increase of EGP 31.8 bn, and a growth rate of 47.4% by the end of September 2023.
Meanwhile customer deposits in Euro showed the fastest growth, jumping by 52.7%, and an increase of EGP 4.43 bn, reaching the equivalent of EGP 12.8 bn during the period from January to September this year, compared to the equivalent of EGP 8.4 bn by the end of December 2022.
Although the portfolio has risen significantly, it still constitutes a small percentage of the Bank's total customer deposits at a relative weight of 2.58% by the end of the first 9M of 2023.
As for customer deposits in pound sterlling, they rose by 46.7%, recording the equivalent of EGP 877.97 mn by the Q3 of 2023, compared to EGP 598.5 mn by the end of last year.
Regarding customer deposits in other currencies, the Bank recorded the equivalent of EGP 421 mn by the end of September 2023, compared to EGP 451 mn by the end of December 2022.
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