QNB ALAHLI net profit grows 5.18% in Q1

QNB ALAHLI, the Egyptian unit of Qatar National Bank, reported on Sunday a 5.18 percent year-on-year growth in net profit for the first quarter of 2021.

Net profit, including minority shareholders’ rights, reached 1.966 billion Egyptian pounds ($124.8 million) during the first quarter of the year, compared with 1.869 billion pounds in the same period last year.

Net interest, fee, and commission income fell to 4.06 billion pounds in the January-March period from 5.36 billion pounds in the same period last year, according to a bourse filling.

As for standalone business, the bank posted 1.814 billion in net profits in in the first quarter, down from 1.920 billion pounds last year.