Suez Canal Bank tops Fastest growing Listed Banks in Assets during 2024

Suez Canal Bank has significantly strengthened its financial position over the past year, as evidenced by its asset portfolio rising by 75.05% last year, reaching EGP 180.190 bn by the end of 2024, compared to EGP 102.939 bn by the end of 2023.

This strong performance prompted the bank to top First Bank's list of fastest growing listed banks in assets during 2024, after ranking third in 2023.

Overall, Suez Canal Bank achieved a strong performance in its financial indicators over the past year, jumping its net profit to EGP 5.681 bn in 2024, compared to 2.293 in 2023, with a growth of 147.7%, and a total increase of EGP 3.4 bn, marking the fastest annual growth in 8 years, and its largest ever increase in value.

Its customer deposits jumped by 84% and an increase of EGP 61.824 bn over the past year, reaching EGP 135.471 bn by the end of 2024, compared to EGP 73.647 bn by the end of 2023.

Total customer loans and facilities rose by 113.30% and an increase of EGP 42.052 bn over the past year, reaching EGP 79.166 bn by the end of 2024, compared to EGP 37.114 bn by the end of 2023.

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