Partnering, amongst others, with the European Bank for Reconstruction and Development (EBRD), Egypt’s QNB Alahli bank is actively helping local small and medium-sized enterprises (SMEs) seize opportunity and accelerate growth. Late last year, the bank yet again expanded the scope of its cooperation with the EBRD with a new $140m financial package to enhance its SME credit facilities and help improve energy efficiency in the country.
With streamlined client-facing procedures, QNB Alahli has become the preferred financial partner to Egypt’s booming SME sector. The bank maintains a comprehensive suite of products tailored to suit the needs of small businesses. QNB Alahli has appointed experienced SME relationship managers in over 200 branches across the country. These professionals assist business owners with all their projects. The bank’s SME services also dovetail with the Egyptian’s government stated intention to encourage entrepreneurship and help SMEs, including micro-businesses reach their full potential.
Since 2013, QNB Alahli is majority-owned by the Qatar National Bank, founded in 1964. The bank has gained recognition and praise for its prudent risk management which powers exceptionally strong growth. In 2016, the bank’s loan portfolio increased 55% with a tenth of the total outstanding benefiting SMEs. QNB Alahli consolidated its position as one of Egypt’s largest privately-owned banks and maintains a branch network that covers the entire country.
A repeat winner, QNB Alahli has again been chosen by the CFI.co judging panel as the undisputed winner of the 2016 Best SME Bank Egypt Award. In an unusual move, the judges also selected QNB Alahli for the 2017 Best Retail Bank Egypt Award.