QNB’s resource employment rate declined to 80.35% during H1-2024
First Bank
QNB's separate financial statements for the financial period ended June 30 revealed that the Bank's resource employment rate fell to 80.35% by the end of the first half of this year, compared to 87.02% by the end of December 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 the first half of 2024 reflects QNB pursuing a conservative policy towards the employment of its resources during this period, which has strengthened the Bank's move away from the average resource employment rate for banks operating in the sector of more than 97%, while QNB has 80.4%.
The bank was able to employ about EGP 571.55 bn of its traditional resources, which recorded EGP 711.36 bn by the end of June 2024 in both loans and financial investments, with EGP 249.03 bn for financial investments, and EGP 322.52 bn for total customer loans.
While employing EGP 517.61 bn of its traditional resources, which recorded EGP 594.82 bn by the end of December 2023 in both loans and financial investments, with EGP 249.04 bn for financial investments, and 268.58 bn for total customer loans.
The Bank's traditional resources were distributed by the end of the first half of this year, between EGP 636.48 bn the value of the deposit portfolio, while the value of equity received 74.88 bn by the end of the same period
The bank's deposit employment rate for loans stabilized at 50.66% by the end of June 2024, compared to the same by the end of last year.
Deposit employment for financial investments fell to 39.13% in the first half of 2024, compared to 46.98% by 2023.
For more about QNB and its achievements, click more