QNB Egypt Reaffirms 25%–27% Loan Growth for 2026

In Short

QNB Egypt loan growth guidance stayed the same.

QNB Egypt still targets 25% to 27% full-year loan growth in local-currency terms for 2026.

Management also expects QNB Egypt’s cost of risk to remain at similar levels to the Q2 outlook.

What Happened

On its Q2 2026 earnings call, Qatar National Bank discussed macro conditions in the Gulf and flagged higher volatility linked to Middle East geopolitics, energy markets, and trade routes.

Within that broader backdrop, management reaffirmed the full-year loan-growth guidance for Qatar National Bank (QNB) Egypt. The guidance is 25% to 27% growth, measured in local-currency terms. That means the target is based on Egyptian pounds, not translated back into US dollars.

QNB also reiterated its expectation for QNB Egypt’s cost of risk to stay in line with the Q2 outlook. Cost of risk is a banking metric that reflects expected credit losses, basically how much a bank sets aside for loans that might not be repaid.

Why It Matters

Egypt has been a key market for GCC-owned banks looking for scale in retail and corporate lending. Keeping a high loan-growth target suggests QNB still sees demand for credit, even as regional uncertainty and higher rates can tighten financing conditions.

The cost-of-risk comment is also a signal. If provisions remain stable while loans grow, it can support earnings, but it also puts pressure on underwriting, meaning how carefully the bank checks borrowers before lending.

For operators and investors watching North Africa financial services, QNB Egypt’s guidance is a useful read on credit appetite and near-term asset quality expectations in one of the continent’s largest banking markets.