QNB ALAHLI net profit grows 7% in H1

QNB ALAHLI, the Egyptian unit of Qatar National Bank, reported on Monday a 7 percent year-on-year growth in consolidated net profit for the first half of the year.

Net profit reached 4.098 billion Egyptian pounds ($261.15 million) in the first six months of 2021 ended in June. Standalone net profit recorded 3.833 billion pounds, the bank added in a statement.

Customers’ deposits also rose 10 percent to 257 billion pounds at the end of June compared with figures recorded in December 2020.

Total assets stood at 315 billion pounds at the end of June, 9 percent up from figures recoded in December 2020.

Loans and advances grew 3 percent to 179 billion pounds. The bank also reported a strong Capital Adequacy Ratio of 22.40 percent. As of June 30, 2021.