Suez Canal Bank tops the fastest growing banks in asset during 2024

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

This strong performance prompted the bank to be topped by First Bank's list of the fastest growing asset banks in 2024, after finishing fifth in 2023.

Overall, Suez Canal Bank achieved a strong performance in its financial indicators over the past year, jumping its net profit to 5.681 billion pounds in 2024, compared with 2.293 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.

Net interest income rose by 70.85%, to 5.541 billion pounds in 2024, compared with 3.243 billion pounds in 2023, marking an increase of 2.298 billion pounds.

Net fees and commissions income rose to Pound979.914 million in 2024, compared to Pound660.68 million in 2023, a growth of 48.32%, and a total increase of Pound319.234 million.

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.

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

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