QNB Al Ahli mixed performance under the leadership of Mohamed Bedeir

QNB Al Ahli has undergone mixed performance over the past two years, specifically during Mohamed Bedeir's leadership as the bank's chief executive officer, since he assumed executive leadership in 2021, and until the bank's most recent financial statements in December 2023.

This is clearly evident in QNB Al Ahli indicators, where the Bank has managed to achieve mixed growth in its portfolios and net profits, reflected in its market shares, as it has achieved marginal increases in its shares in deposit markets and financial investments, while recording slight declines in the asset and loan markets.

In a new monitoring conducted by First Bank to measure the development of the Bank's most important indicators since Bedeir assumed executive leadership, it revealed that the Bank's asset volume had risen to EGP 620.5 bn by the end of 2023, compared to EGP 354.2 bn by the end of 2021, with an estimated increase of EGP 266.3 bn.

The Bank's deposit portfolio jumped from EGP 296.2 bn by the end of 2021, to EGP 530.1 bn by the end of 2023, with a growth of 78.95% and an increase of EGP 233.9 bn.

This rise is attributable to the growth of the Bank's corporate deposits by EGP 185.6 bn over the past two years, reaching EGP 356.7 bn by the end of 2023, compared to EGP 171.1 bn by the end of 2021.

The Bank's retail deposits rose by 38.56% during the period under analysis, reaching EGP 173.4 bn by the end of 2023, compared to EGP 125.1 bn by the end of 2021, with an increase of about EGP 48.3 bn.

QNB Al Ahli's total customer loans rose from EGP 184.8 bn by the end of 2021 to EGP 268.6 bn by the end of 2023, with a growth of 45.34% in two years, supported by the growth of the Bank's loans of the retail banking and corporate sectors.

The bank achieved a growth of 48.64% in its retail loans, bringing its portfolio of retail loans to EGP 54 bn by the end of last year, up from EGP 36.3 bn by the end of 2021, with an increase of about EGP 17.7 bn.

Corporate loans was EGP 214.6 bn by the end of 2023, compared to EGP 148.5 bn by the end of 2021, achieving a growth rate of 44.54% during the period under analysis.

The Bank also boosted its financial investments, jumping to EGP 249 bn by the end of last year, compared to EGP 129.9 bn by the end of 2021.

In terms of profitability indicators, it made good progress, with the Bank's net profits rising by 45.31% during the period under analysis, to register EGP 15.8 bn in 2023, compared to EGP 10.9 bn in 2021.

The bank's profits in its share rose to EGP 6.57 per share in 2023, compared to EGP 3.1 per share in 2021, with a growth rate of 111.94% and an increase of EGP 3.47 per share.

Net interest income jumped by 103.61% in the period under analysis, to EGP 30.4 bn in 2023, compared to EGP 14.9 bn in 2021.

Net fees and commissions income rose to EGP 4 bn in 2023, compared to EGP 2.1 bn in 2021, with growth of 92.81% and an increase of EGP 1.9 bn.

The mixed growth in QNB Al Ahli’s indicators since Mohammed Bedeir assumed executive leadership resulted in a mixed performance in market shares, with its share in the asset market falling marginally to 3.96% of total banking assets by the end of September 2023, compared to 4.11% by the end of 2021.

Its share in the finance market fell slightly to 5.18% of total banking sector loans by the end of September 2023, compared to 6.09% by the end of 2021.

While its share in the deposit market jumped to 5.09% of total Egyptian banking sector deposits by the end of Q3 of 2023, compared to 4.59% by the end of 2021.

Its share in the financial investment market rose to 4.51% of total financial investments (securities) in the banking sector by the end of September 2023, compared to 3.91% by the end of 2021.