QNB Al Ahli reports 12% lower profit in 2020

Down by 12.09% year-on-year (YoY)

Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) logged EGP 7.49 billion in consolidated net profits during 2020, down by 12.09% year-on-year (YoY) from EGP 8.52 billion, including minority shareholders’ rights.

On the other hand, the lender’s net interest income increased to EGP 14.63 billion last year from EGP 13.75 billion in 2019, according to a bourse disclosure on Wednesday.

As for standalone business, the bank achieved net profits of EGP 7.4 billion in 2020, down from EGP 8.32 billion in the prior year.

Over the first nine months of 2020, QNB Al Ahli reported net profits of EGP 5.64 billion, compared to EGP 6.45 billion in the corresponding period a year earlier, including minority shareholders’ rights.

Source: Mubasher

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