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QNB Al Ali logs EGP 3.84bn profit in H1-20

QNB Al Ali logs EGP 3.84bn profit in H1-20
The lender’s net interest income grew to EGP 7.46 billion
QNB Al Ahli
QNBA
-0.13% 14.97 -0.02

Cairo – Mubasher: The consolidated financial statements of Qatar National Bank Al Ahli (QNB Al Ali) reported an 8.8% year-on-year (YoY) increase in its net profits to EGP 3.84 billion in the first half of 2020 from EGP 4.21 billion.

The lender’s net interest income grew to EGP 7.46 billion in the January-June period, compared to EGP 6.7 billion in the corresponding period a year earlier, according to a bourse disclosure on Monday.

As for standalone business, QNB Al Ali achieved net profits of EGP 3.8 billion in H1-20, down from EGP 4.02 billion in H1-19.

It is worth mentioning that during the first quarter of 2020, the bank’s net profits slid to EGP 1.86 billion from EGP 2.02 billion in the year-ago period.