QNB Al Ahli invests EGP540.261 million into its subsidiaries by September-22 end

12/7/2022 3:35:18 PM

Qatar National Bank Al-Ahli (QNB Al Ahli) continues its leading role in supporting economic growth through an integrated program that is not only limited to providing its distinguished financial services, but also extends to providing integrated solutions through subsidiaries such as QNB Al-Ahli financial leasing, QNB Alahli life insurance, and QNB Al-Ahli factoring.

The bank has established various subsidiaries in specialized fields that will position QNB ALAHLI as a major financial institution. The creation of these subsidiaries further demonstrates the commitment of QNB Group towards the Egyptian society.

QNB Al-Ahli subsidiaries offer their products and services through the bank’s network of branches, in which a team of specialists is present to serve this important segment of customers, which enhanced to the bank’s position as a financial institution that takes part in in financial and banking activities within the Egyptian market.

The bank’s shareholding percentages in these subsidiaries witnessed stability during the current year, as it has not changed since 2021.

QNB ALAHLI Factoring Company is a subsidiary of QNB ALAHLI that began its activity on 2012; QNB is the largest shareholder having 99,997 shares with a total value of EGP324.9 by the end of September 2022.

It is a financial institution specializing in all kinds of factoring activities by offering factoring services both locally and internationally. QNB ALAHLI Factoring enjoys all the means, competencies and rapid business solutions of factoring to meet the needs of customers, mainly in the order of financial & commercial operations and micro-niche. This is attributed to its broad spectrum of the Egyptian and the global market, as well as, its international network expertise.

Moreover, QNB ALAHLI Leasing Company is the first incorporated Egyptian leasing company to provide leasing services to Egyptian companies. It is the market leader with around 2 billion book value assets leased. The bank’s shares amounted to about 99.98% of the total company shares, with a book value of EGP144.915 million, by the end of the third quarter of 2022.

On the other hand, QNB ALAHLI Life Insurance has developed a large range of products meeting main customer needs in saving and planning ( AlRafiq Graduation, AlRafiq Wedding, AlRafiq Retirement, AlRafiq Project)& El Nokhba saving program . In addition, the protection policies for both individuals and corporate staff. The bank’s shareholding in this company amounted to about 99.98%, with a book value of EGP 69.179 million by the end of September 2022.