QNB Alahli Bank H1 net profit rises 27%

Qatar National Bank (QNB), the Middle East’s largest lender by assets, reported on Thursday a 27 percent rise in first-half net profit in Egypt.

QNB AlAhli earned a net profit of around 3.459 billion Egyptian pounds ($193.2 million) in the first half of the year from 2.730 billion pounds last year.  Customers’ deposits surged 4 percent to record 191.8 billion pounds at the end of June compared to 184.9 billion pounds at the end of December 2017.

The bank’s assets also hiked 7 percent to nearly 237.5 billion pounds from 223 billion pounds last year, QNB AlAhli’s financial statements showed.

Loans and credit facilities grew 10 percent to 123.5 billion pounds in June against 112.6 billion pounds in December.