QNB Al Ahli’s resource employment rate Fell to 87% by the end of 2023

QNB Al Ahli's separate financial statements revealed that QNB Al Ahli's resource employment fell marginally to 87% by the end of 2023, compared to 88.25% by the end of 2022.

This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.

The slight decline in the Bank's resource employment rate in 2023 reflects QNB AlAhli’s relatively conservative policy towards the employment of its resources during this period.

The bank was able to employ EGP 517.6 bn from its traditional resources, which recorded EGP 594.8 bn by the end of 2023 in both loans and financial investments, with EGP 249 bn for financial investments, and EGP 268.6 bn for total customer loans.

While employing EGP 405.6 bn of its traditional resources, which recorded EGP 459.7 bn by the end of December 2022 in loan and financial investment, with EGP 174.9 bn for financial investments, and EGP 230.8 bn for total customer loans.

At the end of 2023, the Bank's traditional resources distributed between EGP 530.1 bn in deposit portfolio value, while the value of equity received EGP 64.7 bn by the end of the same period.

The Bank's deposit employment rate fell to 50.66% by the end of 2023, compared to 56.69% by the end of 2022.

While the deposit employment rate for financial investments rose to 46.98% by the end of 2023, compared to 42.96% by the end of 2022.

The decline in the Bank's employment index in Q3 of 2023 has increased its move away from the Egyptian banking sector’s average, with the banking sector's employment index registering about 96.57% by the end of 2023.

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