QNB's loans for industrial corporates rise to EGP 152.9 bn by the end of June 2024

QNB strengthened its financing for industrial corporates significantly during the first half of this year, rising to EGP 152.9 bn by the end of June 2024, compared to EGP 121.8 bn by the end of 2023, with an increase of EGP 31.1 bn.

The increase recorded by the Bank is due to the rise in debit current account balances for industrial corporates by 30.44% during the first half of this year, reaching EGP 61.9 bn by the end of June 2024, compared to EGP 47.4 bn by the end of 2023.

Debit Current account balances of this activity accounted for 40.46% of its total loans to industrial corporates by the end of June 2024.

It also expanded the granting of syndicated loans to industrial corporates, reflected in its rise from EGP 18.6 bn by the end of 2023, to EGP 23.7 bn by the end of the second quarter of 2024, with a growth of 27.47% and an increase of more than EGP 5 bn.

Syndicated loans to industrial corporates accounted for the lowest share of its total loans for this activity, reaching 15.47% by the end of June 2024. QNB provided more direct loans to industrial corporates, jumping by 22.26% in the first six months of 2024, reaching EGP 66.8 bn by the end of June 2024, compared to EGP 54.7 bn by the end of 2023, with an increase of EGP 12.2 bn.

Direct loans for this activity dominated the largest share of the Bank's total loans for industrial activity, with a share of about 43.71% by the end of June 2023.

As for QNB's other loans for industrial corporates, it accounted for 0.36% of the Bank's total loans for this activity, reaching EGP 551.2 mn by the end of the second quarter of 2024.

The industrial sector received a share of 58.26% of QNB's total loans to corporates by the end of the second quarter of this year, while it accounted for about 47.41% of the Bank's total customer loans by the end of June 2024.

QNB’s total corporate loans jumped to EGP 262.5 bn by the first half of 2024, compared to EGP 214.6 bn by the end of 2023, with a growth of 22.31% and an increase of EGP 47.9 bn.

The Bank's total customer loans rose to EGP 322.5 bn by the end of June 2024, compared to EGP 268.6 bn by the end of 2023, with a growth rate of 20 .1% and an increase of EGP 53.9 bn. For more details about QNB and its achievements, click more