QNB AlAhli’s loans to deposit ratio increased to 51.15% by March 2024end

The financial statements of QNB AlAhli, ending on March 31 of the current year, revealed an increase in loans to deposits ratio, recording 51.15% by the end of March 2024, compared to 50.66% by the end of December 2023. 

The bank witnessed strong performance in its key indicators, The Bank's deposit portfolio increased by 17.33%, an increase of EGP 91.90 bn in the first 3 months of the current year, recording EGP 622.01 bn by the end of March 2024, compared to EGP 530.12 bn by the end of December 2023.

The bank increased its customers loans by EGP 49.60 bn during the first quarter of the current year, Total customer loans and facilities increased with a growth rate of 18.47% , reaching EGP 318.18 bn by the end of March 2024, compared to EGP 268.58 bn by the end of December 2023.

Regarding the financial position, the bank achieved a growth rate of 16.38%, with an increase of EGP 101.63 bn during the first 3 months of the current year, recording total assets around EGP 722.16 bn by the end of March 2024, compared to EGP 620.53 bn by the end of December 2023. 

QNB AlAhli's net profits jumped by 52.89%, with an increase of EGP 2.37 bn, registering EGP 6.85 bn during Q1- 2024, compared to EGP 4.48 bn during the same period of 2023.