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QNB Al Ahli sees higher net profits in 2023; dividends unveiled

QNB Al Ahli sees higher net profits in 2023; dividends unveiled
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Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) recorded consolidated net profits after tax valued at EGP 16.22 billion in 2023, an annual rise from EGP 10.35 billion, including minority interest.

Net interest income amounted to EGP 30.88 billion last year, up from EGP 19.96 billion in 2022, according to the financial results.

Earnings per share (EPS) stood at EGP 6.57 in the January-December 2023 period, up year-on-year (YoY) from EGP 4.20.

Total assets hiked to EGP 628.75 billion in 2023 from EGP 483.27 billion as of 31 December 2022, while the customer deposits jumped to EGP 529.55 billion from EGP 406.24 billion.

Standalone Income Results

QNB Al Ahli generated EGP 15.76 billion in standalone net profit after tax as of 31 December 2023, higher YoY than EGP 10.12 billion.

Dividends Proposal

The lender’s board members recommended cash dividends worth EGP 1.50 per share for 2023, which is still subject to the approval of the ordinary general meeting (OGM).

In the first nine months (9M) of 2023, QNB Al Ahli logged consolidated net profits attributable to the shareholders worth  EGP 12.52 billion, a leap of 71% from EGP 7.33 billion in 9M-22.