QNB Egypt Financial Results Q1 2026: Net Profit Hits EGP 9.5 Billion, Assets Surpass EGP 1 Trillio

At the start of 2026, the Egyptian economy was on a positive trajectory, supported by 5.3% GDP growth, relatively stable inflation, expanding industrial activity, accelerating tourism, and rising remittances from Egyptians abroad. However, this outlook was challenged by escalating regional tensions, which disrupted energy production and supply routes, increased transportation and insurance costs, and drove higher global energy prices, reigniting inflationary pressures. In response, the government and the Central Bank of Egypt (CBE) adopted a flexible policy framework amid heightened external uncertainty. The EGP depreciated with elevated day‑to‑day volatility, largely reflecting shifts in foreign portfolio inflows and outflows. On the fiscal front, the government moved to contain the budget deficit by revising energy prices upward while implementing measures to curb domestic energy consumption, adding further inflationary pressure. Against this backdrop, the CBE paused its monetary easing cycle, citing increased uncertainty and the need to assess the inflationary impact of recent fiscal actions and external shocks.

QNB Egypt continued to build on its solid business model while enhancing its profitability metrics. The bank’s balance sheet grew by 12% YTD, reaching EGP 1,044 billion, primarily driven by 13% YTD growth in deposits.

Loan growth remained solid, rising by 7% to EGP 498 billion, reflecting the bank’s expanding lending activity across both retail and corporate segments. The non-performing loan ratio settled at 4.58%, while the total coverage ratio reached 118.9% demonstrating the bank’s prudent credit risk management.

QNB Egypt reported a solid net profit of EGP 9.5 billion, up 33% YOY, driven by a 24% increase in net interest income and a 36% rise in net banking income. This performance was achieved despite a 105% increase in cost of risk, which reached EGP 1.54 billion. The bank also maintained a strong cost‑to‑income ratio of 17.3%, underscoring its operational efficiency and disciplined cost management.

Financial Results
1.1. Financial Position

 Gross loans grew by EGP 31 billion, reaching EGP 498 billion. This growth reflects a well-balanced exposure across segments. Corporate loans accounted for EGP 411 billion, up +6% YTD, and Retail loans reached EGP 88 billion, up +8% YTD.

Customer deposits reached EGP 879 billion, up +13% YTD. Retail deposits showed a robust growth of +12% YTD to EGP 322 billion, while corporate deposits increased by 14% YTD to EGP 557 billion.

 Total Equity attained EGP 118 billion which represents +1% YTD. The capital adequacy and tier 1 ratios stood at 24.6% and 23.9%, respectively, well above CBE’s minimum requirements of 12.5% and 8.5%.

Liquidity Position maintains a solid liquidity profile, with a gross loan/deposit ratio of 56.7%. When compared to the CBE’s LCY liquidity ratio requirement of 20%, QNB recorded 40.4%. On the other hand, the CBE’s FCY liquidity ratio requirement is 25%, while QNB recorded 54.5%.

1.2. Income Statement

Net Banking Income, Total net banking income recorded EGP 18.3 billion impacted by healthy growth in core components. NII grew by +24% recording EGP 13,945 million, while non-interest income grew by 90%, or 25% when normalizing the effect of FX revaluation, reaching EGP 4,341 billion.

Operating expenses reached EGP 3,168 million, with a +28% increase YOY. QNB maintained an efficient cost-to-income ratio of 17.3%.

Provision expense recorded EGP 1,537 million, securing a total coverage ratio of 118.9%

Net profit grew to reach EGP 9,524 million by the end of March 2026, and marking +33% up compared to March 2025.
Corporate Social Responsibility:
In continuation with QNB Egypt’s growing social presence, several projects aiming to give back to the community have occurred in the first quarter of 2026:
QNB Egypt staff members participated in Masr El Kheir’s Winter Campaign volunteering day, where staff members participated in the roofing of houses in Fayoum governorate, improving the resident’s protection from harsh weather conditions.
In cooperation with Sonaa El Kheir foundation, QNB Egypt sponsored the renovation and upgrade of Nazel El Shobak primary school providing education for 812 students in Giza governorate.
QNB Egypt has sponsored the establishment of an AI-driven health research lab at the Faculty of Dentistry in Cairo University, noting that it’s the first of its kind. The lab serves to train students and academic staff in the latest AI technologies, as well as provide care for patients across Egypt, especially patients in rural areas with limited access to advanced facilities.

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