Akef El Maghraby leads SC Bank to advance 9 positions in the list of the largest banks in Egypt at the level of loans

Akef El Maghraby Executive Chairman and Managing Director of Suez Canal Bank succeeded in an extraordinary leap in performance since taking office in April 2024, leading the bank to advance 9 positions in Egypt's top loan-level banks After finishing 23rd by the end of March 2024, he jumped to 14th by the end of the same year, according to a recent monitoring by our website "First Bank."

At the level of banks listed on the Egyptian Stock Exchange, the bank jumped to fourth place in terms of the size of the customer loan portfolio by the end of 2024, when it was ninth by the end of 2023, marking an unprecedented surge in its competitive history.

The Suez Canal Bank's customer loan portfolio has recorded a record growth rate since taking over "Morocco", rising by 78.77% and an increase of about 34.88 billion pounds, reaching 79.17 billion pounds by the end of 2024, compared to 44.29 billion pounds by the end of March 2024.

Regarding 2024 level, the total portfolio of customers' loans rose to 79.17 billion pounds by the end of 2024, compared to 37.11 billion pounds by the end of 2023, a growth of 113.31%. The increase exceeds Pound42 billion, marking the fastest annual growth in the last decade. Its greatest ever increase in value, and it should be noted that if this record pace of growth continues, It is likely to enter Egypt's top 10 list during the 2025.

This extraordinary performance led Suez Canal Bank to top the "First Bank" list of the fastest growing banks in total customer loans in 2024, up from eighth place in 2023.

At the level of sub-portfolios consisting of the Bank's customer loan portfolio, the corporate loan portfolio jumped by 83.3% and increased by 33.48 billion pounds, registering about 73.67 billion pounds by the end of 2024, compared to 40.19 billion pounds by the end of March 2024.

The bank's retail loan portfolio also rose by 34.2% over the past year, rising from 4.09 billion pounds by the end of March 2024, to 5.49 million pounds by the end of 2024, an increase of 1.20 billion pounds.