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Tuesday, 20 September 2016

QNB Al Ahli retained earnings to expand in Egyptian market

QNB Al Ahli has retained its profits in Egypt to finance its expansion domestically, executive board member Tariq Fayed told Al Masry Al Youm. Fayed did not say if repatriating profits was a viable option but said the funds will be used to expand the number of branches domestically and to expand SME and megaproject financing. Fayed is quoted as saying QNB Al Ahli “does not have a problem” with the FX rate as it does not “speculate” on currency.

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