QNB Al Ahli total customer loans rise to 86.4% in 5 years
Mai El-Kafoury
QNB Al Ahli independent financial statements revealed that its total customers loans increased by 86.4% during the period from the end of 2018 to the end of 2023.
Its total customer loans jumped from EGP 144.1 bn by the end of 2018, to EGP 268.6 bn by the end of 2023, with an increase of EGP 124.5 bn.
Tracking its journey over the period under analysis, we find the highest growth rate achieved by the portfolio, and the highest increase was in 2022, rising by 24.88% on an annual basis, to reach EGP 230.8 bn by the end of the year, compared to EGP 184.8 bn by the end of 2021, with an estimated increase of EGP 46 bn.
The second highest growth rate, and the second highest increase, the portfolio witnessed was in 2023. The Bank's total customer loans jumped by EGP 37.8 bn over the past year, registering EGP 268.6 bn by the end of the year, compared to EGP 230.8 bn by the end of 2022, with a growth of 16.38% on an annual basis.
As for QNB Al Ahli directions in granting customer loans, the Bank has a significant tendency to corporate loans as compared to retail loans. Corporate loans accounted for about 79.91% of its total customer loans by the end of 2023. This percentage shows a relative decline during the period under analysis, accounting for 84.94% by the end of 2018.
Retail loans accounted for about 20.09% of the Bank's total loans by the end of 2023, compared to 15.06% by the end of 2018.
The Bank's loans of the retail banking sector rose by nearly 148.69% during the period under analysis, reaching EGP 53.96 bn by the end of 2023, compared to EGP 21.7 bn by the end of 2018, with an increase of EGP 32.26 bn.
Bank's corporate loans, including Corporate and Business Banking, rose from EGP 122.4 bn by the end of 2018, to EGP 214.6 bn by the end of 2023, with a growth of 75.32% and an increase of EGP 92.2 bn.
