Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) reported a 22% year-on-year increase in its profits during the first half of 2019, according to the company’s consolidated financial statements.
Net profits rose to EGP 4.21 billion from January to June, compared to EGP 3.45 billion in the year-ago period, the bank said in a statement to the Egyptian Exchange (EGX) on Wednesday.
During the second quarter of 2019, the lender’s profit grew by 18.4% to EGP 2.19 billion from EGP 1.85 billion in the corresponding period a year earlier.
Net income from return surged to EGP 6.71 billion in the six-month period ended 30 June, compared to EGP 4.95 billion in the prior-year period.
In addition, net income from return, fees, and commissions increased to EGP 7.67 billion in the January-June period from EGP 5.9 billion.
As for standalone business, the bank’s profits amounted to EGP 4.02 billion in H1 of 2019 from EGP 3.29 billion in the corresponding period a year earlier.
Customer deposits retreated to EGP 203.95 billion in the January-June period from EGP 205.28 billion in the same period of 2018.
Loans and credit facilities surged to EGP 141.91 billion at the end of last June, compared to EGP 137.96 billion at the end of June 2018.
