QNB ALAHLI achieves a breakthrough in Financial efficiency indicators At 9M-2023
First Bank
Qatar National Bank Al Ahli- "QNB AL Ahli" managed to achieve exceptional performance in its financial efficiency indicators during the first 9M -2023.
The following analysis reviews the bank's progress in financial efficiency indicators from January to September 2023.
The separate financial statements of QNB AL Ahli, ending on September 30, 2023, revealed that the bank achieved a return on average equity (ROE) of 21.06% during the first 9 months of 2023, compared to 14.82% during the same period in 2022.
In addition, Return on Average Assets (ROA) increased to 2.25% during the first 9M 2023, compared to 1.75% during the same period in 2022.
The increase in both ROA and ROE is attributed to the success of QNB AL Ahli in achieving a strong leap in its net profits during the current year. The net profits of the bank surged by approximately 71.4%, reaching EGP 11.92 bn during the first 9 months 2023, compared to EGP 6.95 bn during the same period in 2022.
In terms of earnings per share, the bank recorded a growth rate of 72.6% during the period from January to September 2023, with the bank's share of net profits reaching about EGP4.97 per share during the first 9M- 2023, compared to EGP2.88 during the same period in 2022.
It is worth mentioning that the bank achieved a growth of 15.3% in its Equity portfolio during the first 9 months of this year, as it increased from EGP 52.6 bn at the end of December 2022 to EGP 60.6 bn at the end of September 2023.
The bank's asset portfolio also increased by 15.3% during the first 9M of the current year, reaching EGP 584 bn at the end of September 2023, compared to EGP 476.8 bn at the end of December 2022. An increase of EGP107.2bn. For more info and news about QNB AL Ahli, click on "Read More."
