Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) on Wednesday reported a 27% year-on-year increase in consolidated profits for the first half of 2018, recording EGP 3.4 billion from EGP 2.7 billion.

Net income grew to EGP 4.9 billion in H1-18, versus EGP 4 billion in the six-month period of 2017, the bank highlighted in a filing to the Egyptian Exchange (EGX).

On a quarterly basis, the bank generated EGP 1.8 billion in profits during the second quarter of this year, compared to EGP 1.4 billion in Q2-17.

Meanwhile, standalone profits rose to EGP 3.2 billion in H1-18, versus EGP 2.5 billion in H1-17.

QNB Al Ahli previously posted EGP 1.6 billion in consolidated profits during Q1-18, versus EGP 1.26 billion in the three-month ended March 2017, including minority shareholders’ rights.