SC Bank tops the fastest-growing listed banks in assets after exchange rate neutralization during 2024

Suez Canal Bank significantly strengthened its financial position over the past year, pushing it to top the First Bank list of fastest growing asset banks after neutralizing the exchange rate in 2024 after achieving a record growth rate of 46.75%.

As for the growth of the asset portfolio before the neutralization of the exchange rate, it jumped by 75.05% over the past year, reaching 180.190 billion pounds by the end of 2024, compared with 102.939 billion pounds by the end of 2023.

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.

The portfolio of customer loans rose by 113.3%, marking a fiscal increase of LE42.052 billion during the fiscal year ending 2024, bringing its total balance to LE79.166 billion by the end of the same year, compared to LE37.114 billion by the end of 2023, leading the First Bank list of the fastest growing banks in total customer loans in 2024.

Its clients' 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.

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