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QNB Alahli's loans portfolio reaches EGP 111bn end-March - Daily News Egypt

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QNB Alahli’s loans portfolio reaches EGP 111bn end-March

Bank’s LTD scored 60% in November 2017, versus 44% average across Egyptian banks


The net loans and advances portfolio at QNB Alahli reached EGP 111bn at the end of March 2018, according to a statement from the bank.

The bank explained that its market share of the total loans granted by banks to their customers reached about 7.94% in November 2017, according to data available from the Central Bank of Egypt (CBE).

According to the bank, credit facilities granted to small and medium enterprises (SMEs) reached 18.59% of its total loans portfolio at the end of March 2018, compared to a target of 20% by 2019, based on the directives of the CBE.

In addition, the bank pointed out that the ratio of nonperforming loans scored 2.3% of its total loans portfolio at the end of March, while provisions for these loans reached 203%.

The bank’s performance indicators also revealed that its capital adequacy ratio reached 17.32%, under the optimal application of credit policies and the absence of any risk assets in the bank’s investment portfolio.

According to the bank, its total consolidated assets reached EGP 231bn at the end of March 2018, compared to 4% at the end of 2017.

It added that customer deposits amounted to EGP 193bn at the end of March, growing by 4% from the end of 2017. The report showed that the bank accounted for 5.52% of total deposits at banks in Egypt in November 2017.

The ratio of loans to deposits (LTD) at the bank registered 60%, against an average of 44% across the banking sector in Egypt in November 2017.

In the same context, the bank’s performance indicators revealed net profits of EGP 1.502bn at the end of March 2018, up by 27% from March 2017.

The consolidated net profits of the bank, including the profits of its subsidiaries, amounted to EGP 1.605bn, up by 27% from March 2017.

According to QNB Alahli, the results achieved confirm the bank’s efficiency, flexibility of policies, and operational procedures that helped it to develop its operations, overcome crises, address the strong competition in the market, and take advantage of the opportunities available through its network of branches, which has reached 216 locations.

The report stressed that QNB Alahli will continue to support SMEs through an integrated programme that not only provides banking services, but also provides integrated solutions through its subsidiaries, such as QNB Alahali Life, QNB Alahli Leasing Company, QNB Alahali Factoring, and QNB Asset Management.

Topics: Loans QNB Alahli

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https://www.dailynewsegypt.com/2018/04/16/qnb-alahlis-loans-portfolio-reaches-egp-111bn-end-march/
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