SC Bank tops fastest-growing listed banks in customer loans after exchange rate neutralization in 2024

Suez Canal Bank's loan portfolio has seen remarkable growth over the past year, prompting it to top the First Bank list of fastest-growing banks in customer loans after neutralizing the exchange rate in 2024 after achieving a record growth rate of 103.78%.

As for the growth of the customer loan portfolio before the neutralization of the exchange rate, it jumped by 113.3%, recording a fiscal increase of 42.052 billion pounds during the fiscal year ending 2024, bringing its total balance to 79.166 billion pounds by the end of the same year, compared to 37.114 billion pounds by the end of 2023, leading the First Bank list of the fastest growing banks in 2024.

Overall, Suez Canal Bank had a strong performance over the past year, with net profits rising to 5.681 billion pounds in 2024, compared to 2.293 billion pounds in 2023, with growth of 147.7%, a total increase of 3.4 billion pounds, 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 61.824 billion pounds over the past year, reaching 135.471 billion pounds by the end of 2024, compared to 73.647 billion pounds by the end of 2023.

Its portfolio of assets jumped by 75.05% last year, reaching 180.190 billion pounds by the end of 2024, compared to 102.939 billion pounds by the end of 2023.

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