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QNB ALAhli accounts for 7.93% of total loans, 5.64% of deposits in Egypt - Daily News Egypt

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QNB ALAhli accounts for 7.93% of total loans, 5.64% of deposits in Egypt

Bank's LDR amounted to 67%, up from sector's average of 45%


QNB ALAhli accounted for 7.93% of the total loans granted by banks operating in the Egyptian market at the end of July 2018, according to the bank’s statement.

The statement said that the bank’s loan and advances portfolio, after deducting the provisions, grew to EGP 127bn at the end of September 2018.

The ratio of subprime loans at QNB ALAhli reached 2.48% in September, while provisions for these loans reached 170%.

According to the bank, its deposit portfolio reached about EGP 198bn at the end of September 2018, up by 7% from the end of 2017. The bank’s market share of total deposits reached 5.64% in July 2018.

The bank’s deposit utilisation rate increased, with the ratio of total loans to deposits at 67%, against a market average of 45% in July 2018. The bank focuses on the growth of core banking operations, while maintaining high liquidity rates in all currencies.

The bank aims to support small and medium-sized enterprises (SMEs) through an integrated programme, which not only provides banking services, but also provides integrated solutions through several bank subsidiaries.

The most important of these companies are QNB AA for life insurance, QNB AA for financial leasing, QNB AA for factoring, and QNB AA for asset management.

According to the bank, the proportion of facilities granted to SMEs reached 19.51% of total credit granted by the bank at the end of September.

QNB ALAhli disclosed the results of its independent and consolidated business report for the financial period ended September 2018.

The bank’s results showed that independent net profits reached EGP 5.163bn, up by 27% from September 2017, while consolidated net profits reached EGP 5.384bn, up by 27%.

The bank’s capital adequacy ratio is at 17.95%, as it applies best credit policies.

Total consolidated bank assets increased by 11% to EGP 274bn at the end of December 2017.

QNB ALAhli owns 216 branches across Egypt to meet the needs of the largest number of customers at various areas.

Topics: Loans QNB Alahli

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https://dailynewsegypt.com/2018/10/13/qnb-alahli-accounts-for-7-93-of-total-loans-5-64-of-deposits-in-egypt/
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