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QNB Al Ahli reports 5% higher profit in Q1-21

QNB Al Ahli reports 5% higher profit in Q1-21
Net interest, fee, and commission income retreated to EGP 4.06 billion
QNB Al Ahli
QNBA
-1.41% 16.75 -0.24

Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) achieved net profits of EGP 1.96 billion during the first quarter (Q1) of 2021, up by 5.18% year-on-year (YoY) from EGP 1.87 billion in the corresponding period a year earlier, including minority shareholders’ rights.

The lender’s net interest, fee, and commission income retreated to EGP 4.06 billion in the January-March period from EGP 5.36 billion in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, QNB Al Ahli logged EGP 1.8 billion in net profits in Q1-21, down from EGP 1.92 billion in Q1-20.

During 2020, the bank reported EGP 7.49 billion in consolidated net profits, down from EGP 8.52 billion in 2019, including minority shareholders’ rights.