QNB Al-Ahli 9-month net profit 22% up

Qatar National Bank Al-Ahli (QNB Al-Ahli) has achieved net profits of 7.3 billion Egyptian pounds ($371.3 million) during the first 9 months of the year, with a growth rate of 22 percent, according to its statement released on Monday.

The total assets had amounted 447 billion pounds at the end of September 2022, which recorded an increase of 24 percent compared to December 2021.

The loan portfolio has increased to 30 billion pounds since the previous year, as the total portfolio has recorded to 213 billion pounds by the end of September 2022, mentioned its CEO Mohamed Badir.

The customer deposits portfolio rose to 376 billion pounds to reach an increase of 80 billion pounds since the beginning of 2022, with a growth rate of 27 percent, the statement said.

The bank has achieved these results despite the repercussions of the global economic conditions, which cast a shadow on the local economy, Badir added.