QNB AlAhli's profits decline 7.5% to LE 1.8B in Q1of 2020

CAIRO – 13 April 2020: Qatar National Bank Alahly (QNBA) recorded consolidated profits of LE 1.86 billion during the first quarter of 2020, compared to LE 2.02 billion including minority rights, during the same period of 2019, marking a decrease of 7.5 percent.

The bank’s financial indicators revealed recording net income from revenue at LE 3.848 billion, compared to LE 3.02138 billion in the same quarter of 2019.

As per QNBA standalone results, profits hiked to hit LE 1.92 billion, up from LE 1.91 billion in 2019.

During 2019, the bank recorded consolidated profits of LE 8.5 billion during 2019, compared to LE 7.2 billion including minority rights, during 2018, marking an increase of 18.35 percent.

As per QNBA standalone profits, they hiked 20.29 percent to hit LE 8.32 billion, up from LE 6.92 billion in 2018.

QNB Alahli operates within the banking sector. It has subsidiaries operating across Egypt.