ArabFinance: Qatar National Bank Alahli (QNB Al Ahli) (QNBA) reported a 12% year-on-year (YoY) increase in its consolidated net profit for the first quarter (Q1) of 2022, recording EGP 2.208 billion, according to an emailed press release on April 12th.

Meanwhile, the bank’s standalone net profit amounted to EGP 2.04 billion during the three-month period ended March 2022.

Facilities provided to small- and medium-sized enterprises (SMEs) recorded 26.6% at the end of March, exceeding the targeted percentage set by the Central Bank of Egypt (CBE) of 25%.

The bank’s loans portfolio totaled EGP 198 billion at the end of March, rising by EGP 15 billion or 18% as compared to the end of December 2021.

Moreover, the bank’s customer deposits stood at EGP 323 billion at the end of March, up by 28 billion or 9% from in December 2021.

The loan-to-deposit ratio registered 61.2% at the end of March, compared to the banking sector’s average ratio of 48% in December 2021 as per the CBE’s latest data.

Total consolidated assets grew by 8% to EGP 390 billion at the end of March, compared to December 2021.

QNB Alahli, formerly National Societe Generale Bank, is an Egypt-based bank that offers corporate and retail banking to corporates and SMEs, as well as individuals.

The bank is organized into three business segments: retail banking, corporate and investment banking, and Tawazon Fund.