QNB Egypt seized the opportunity presented by the improving macroeconomic environment, delivering strong, organic growth underpinned by solid fundamentals. The bank’s balance sheet grew by 5% YTD, reaching EGP 859 billion, driven mainly by a 7% rise in customer deposits, which totalled EGP 727 billion by the end of the quarter.
On the asset side, loan growth was particularly strong, increasing by 6% to EGP 385 billion. This growth reflects the bank’s disciplined and prudent approach to credit, with a non-performing loan ratio of 5.39% and a coverage ratio of 104.3%, indicating robust risk management and portfolio resilience.
Despite a YOY drop of EGP 3.2 billion in other operating income, QNB Egypt posted a solid net profit of EGP 7.2 billion, a 2% increase YOY. This was supported by a 14% YOY increase in net interest income and a 36% YOY rise in fees and commissions. The bank also reported an efficiency ratio of 18.4%.
These results reflect the bank’s unwavering commitment to sustainable growth and value creation for its shareholders, clients, and the broader Egyptian economy.
