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QNB Al Ahli’s profit grows to EGP 6.4bn in 9M

QNB Al Ahli’s profit grows to EGP 6.4bn in 9M
Customer deposits increased to EGP 210.07 billion
QNB Al Ahli
QNBA
0.12% 42.05 0.05

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.