Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) reported a 19.9% year-on-year profit increase during the first nine months of 2019.
The lender’s net profits grew to EGP 6.45 billion in the January-September period of 2019, compared to EGP 5.38 billion in the corresponding period a year earlier, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, net income from return, fees, and commissions rose to EGP 11.65 billion in the nine-month period ended 30 September, compared to EGP 9.35 billion in the year-ago period.
As for the third quarter of 2019, the bank’s profit surged to EGP 2.23 billion from EGP 1.92 billion in Q3-18.
At the level of standalone business for the nine-month period ended 30 September, QNB Al Ahli logged a net profit of EGP 6.2 billion, compared to EGP 5.16 billion in the prior-year period.
Meanwhile, customer deposits increased by 2% year-on-year to EGP 210.07 billion from EGP 205.28 billion in the first nine months of 2018.
In addition, loans and credit facilities grew by 9% year-on-year to EGP 149.84 billion at the end of September from EGP 137.96 billion.