SC Bank tops fastest-growing listed banks in corporate loans by the end of 2024

Suez Canal Bank continued its growing interest in the corporate sector, which was clearly reflected in its "First Bank" list of banks listed on the Exchange that are most focused on corporate loans. The bank's loans recorded the highest relative weight of 93.06% of its total loans to customers by the end of 2024.

Suez Canal Bank maintained its position, with the first place also ranked on the list of "First Bank" of listed banks most focused on corporate loans by the end of 2023.

The Bank's portfolio of corporate loans rose by 120.57% last year, registering 73.672 billion pounds by the end of 2024, compared to 33.4 billion pounds by the end of 2023, representing an increase of 40.272 billion pounds.

The portfolio of customer loans rose by 113.3%, marking a fiscal increase of EGP 42.052 billion during the fiscal year ending in 2024, bringing its total balance to EGP 79.166 billion by the end of the same year, compared with EGP 37.114 billion by the end of 2023, marking the fastest annual growth in 8 years, and its biggest ever increase in value.

Although Suez Canal Bank pays great attention to enterprises, it does not neglect the retail banking sector, as it continues to make remarkable progress, as evidenced by the continued growth of its portfolio of retail loans.

 Suez Canal Bank's retail loan portfolio jumped by 47.96% over the past year, registering 5.494 billion pounds by the end of 2024, compared to 3.713 billion pounds by the end of 2023, a total increase of 1.781 billion pounds.

Overall, Suez Canal Bank was able to record strong growth in its financial indicators over the past year, with net profits rising to 5.681 billion pounds in 2024, compared to 2.293 billion pounds in 2023, a 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.

Customers' deposits rose significantly by 84%, resulting in an increase of Pound61.824 billion over the past year, rising to Pound135.471 billion by the end of 2024, compared to Pound73.647 billion by the end of 2023, marking the fastest annual growth rate in 8 years and the highest increase in its history.