QNB AlAhli’s resource employment rate records 81.8% by the end of March 2024
First Bank
QNB AlAhli's separate financial statements for the financial period ended March 31, 2024, revealed that the Bank's resource employment rate was 81.83% by the end of Q1 of this year, compared to 87.02% by the end of 2023.
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 decline in the Bank's resource employment rate during Q1 of 2024 reflects QNB AlAhli's conservative policy towards the employment of its resources during this period.
The bank was able to employ EGP 564.8 bn of its traditional resources, which recorded EGP 690.3 bn by the end of March 2024 in both loans and financial investments, with EGP 246.7 bn for financial investments, and EGP 318.2 bn for total customer loans.
While employing 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.
At the end of Q1 of this year, the Bank's traditional resources distributed between EGP 622 bn in deposit portfolio value, while the value of equity received EGP 68.2 bn by the end of the same period.
The Bank's deposit employment rate for granting loans increased to 51.15% by the end of March 2024, compared to 50.66% by the end of 2023.
While the deposit employment rate for financial investments fell to 39.65% by the end of Q1 of this year, compared to 46.98% by the end of 2023.
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