ArabFinance: Qatar National Bank Alahli (QNB Al Ahli) (QNBA) reported a 2% year-on-year (YoY) increase in its consolidated net profit for the year ended December 31^st 2021, according to an emailed press release on January 11^th 2022.

The bank’s consolidated net profit stood at EGP 7.627 billion in 2021, up from EGP 7.492 billion in 2020.

Consolidated net interest income amounted to EGP 15.34 billion in 2021, rising by 5% from EGP 14.637 billion in 2020.

Moreover, the bank’s consolidated gross operating income grew by 4% YoY to EGP 13.328 billion in 2021 from EGP 12.819 billion.

As per the consolidated results, total assets reached EGP 359.569 billion by the end of December 2021, as compared to the EGP 290.162 billion recorded at the end of December 2020.

Additionally, the bank’s gross loans stood at EGP 182.913 billion at the end of December 2021, while customer deposits reached EGP 295.492 billion.

On the other hand, QNB Al Ahli’s standalone profit increased by 1% YoY in 2021, recording EGP 7.452 billion as compared to EGP 7.399 billion in 2020.

In October 2021, QNB Al Ahli posted a consolidated net profit attributable to the parent company of EGP 6.006 billion in the first half (H1) of 2021, compared to a profit of EGP 5.64 billion in H1 2020.

At the level of the standalone financial statement, the bank’s standalone net profit after tax amounted to EGP 5.69 billion in H1 2021, compared to EGP 5.57 billion in H1 2020.

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

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