QNB-Al Ahli’s Profits Post 24% in 9 Months

Big 5

Qatar National Bank Al Ahli (QNBA) released financial statements for the first nine months of this year.

The nine-month consolidated net earnings reached EGP 1.697 billion, leaping 24% compared with EGP 1.368 billion in the same period of last year.

Meanwhile, the standalone net earnings reached EGP 1.591 billion, compared with EGP 1.343 billion in the corresponding period of 2013.

The lender said in a press release today that the loans and advances portfolios (after deducting provisions) reached EGP 44.6 billion at the end of Sept., rising 15% compared with the figures recorded a year earlier.
QNBA’s market share of the total loans reached 7.94% in July.

The capital adequacy ratio reached 15.79% on the optimal application of credit policies and the zero risky assets in the bank’s investment portfolio, according to the press release.