Client’s deposits in QNB increase to EGP207.4bln by 2018 end

Qatar National Bank (QNB), the Middle East’s largest lender by assets, client’s deposit portfolio has registered 207.4 billion Egyptian pounds in December 2018 with an increase of 11 percent, compared to 186.7 billion pounds a year earlier.

According to the financial results, the bank’s net loans and credit facilities have recorded 138.2 billion pounds by the end of 2018, compared to 113 billion pounds, increasing by 22 percent.

The bank’s total budget has posted 253.4 billion pounds in December 2018, in comparison to 219.6 billion pounds a year earlier, increasing by 15 percent.

The bank made a net profit of 6.918 billion pounds in 2018, compared to 5.294 billion pounds at the end of December 2017, up 31%, while the profit before income taxes calculated about 9.431 billion pounds compared to 7.066 billion pounds, up 33%.

The bank’s board of directors suggesting the increase of its authorized capital by 979.4 million pounds.