The Egyptian economy’s recovery story continues to gain momentum despite escalating regional geopolitical risks. This resilience is driven by ongoing efforts to consolidate fiscal policy, supported by a well-disciplined monetary framework.
Various industries have experienced notable growth, most notably tourism (23%), non-oil manufacturing (16%), and telecommunications (15%). Private investments across sectors rose by 24.2% YOY, accompanied by USD 7 billion in net foreign direct investment inflows. These developments delivered a YOY Q4 GDP growth of 5%, bringing FY 2024/25 growth to 4.4%, surpassing the 4.2% target. The Central Bank of Egypt leveraged these positive dynamics and continued its cycle of interest rate cuts, accumulating a YTD reduction of 625 basis points.
QNB Egypt continued to build on the favourable macroeconomic conditions, delivering a remarkable third-quarter performance while enhancing its profitability metrics. The bank’s balance sheet grew by 7% YTD, reaching EGP 881 billion, primarily driven by 9% YTD growth in Deposits.
Loan growth remained solid, rising by 22% to EGP 446 billion, reflecting the bank’s expanding lending activity across both retail and corporate segments. The non-performing loan ratio settled at 4.88%, while the total coverage ratio reached 107.9%, demonstrating the bank’s prudent credit risk management.
QNB Egypt reported a solid net profit of EGP 22.2 billion, marking a +10% YOY increase. This performance was supported by an 20% rise in net interest income and a +17% increase in fees and commissions. The bank also maintained an efficiency ratio of 19.1%, highlighting its operational strength and disciplined cost management.
These results highlight QNB Egypt’s commitment to deliver sustainable growth and long-term value for its shareholders and the broader economy.
