QNB AL AHLI achieves a Breakthrough in Financial Efficiency Indicators in 2023
First Bank
Qatar National Bank- QNB AL AHLI, achieved a significant progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators in 2023.
The financial statements of QNB AL AHLI, ending on December 31 2023, revealed that the bank achieved a return on average equity (ROE) of 26.89% during 2023, compared to 20.74% in 2022.
The return on average assets (ROA) of the bank rose to reach 2.87% during the last year, compared to 2.44% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits surged with a growth rate of 56%, reaching EGP 15.77 bn during 2023, compared to EGP 10.12 bn in 2022, an increase of EGP 5.65 bn.
In terms of earnings per share, the bank recorded a growth rate of 56.4% during the last year, with the bank's share of net profits reaching about EGP 15.77 per share in 2023, compared to EGP 10.12 At 2022.
It is worth mentioning that the bank achieved a growth of 23.1% in its Equity portfolio during the 2023, as it increased from EGP 52.58 bn at the end of December 2022 to EGP 64.70 bn at the end of December 2023, an increase of EGP 12.12 bn.
The bank's asset portfolio also increased by 30.2% during the last year, reaching EGP 620.53 bn at the end of December 2023, compared to EGP 476.79 bn at the end of December 2022, an increase of EGP 12.12 bn.
