Egypt

QNB Alahli: 3Q22 – Strong annual growth; sequentially stable due to provisioning spike

  • Annual growth was supported by robust margins that trickled down to the bottom line

  • Sequential limited growth was caused by: lower investment income, higher OPEX, provisions and effective tax rate

  • Gross loans expanded by 4% q/q, bringing YTD growth to 17%, while deposits grew by 11% q/q, bringing YTD growth to 27%

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Dalia Bonna @ Al Ahly Pharos Securities Brokerage
October 11th, 2022
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