SC Bank tops the fastest growing banks in total customer loans during 2024

Suez Canal Bank expanded significantly in customer loans over the past year, increasing its total portfolio of customer loans to EGP 79.17 bn by the end of 2024, compared to EGP 37.11 bn by the end of 2023, with a growth of 113.31% and an increase beyond EGP 42 bn, marking the fastest annual growth in the last decade.

Thanks to this record performance, Suez Canal Bank leads First Bank list of the fastest growing banks in total customer loans in 2024, while the greatest advantage was to rank tenth in the list of the largest banks in Egypt at loans level, ranking 23rd by the end of March 2024. The Bank  jumped to 13th by the end of the same year.

Although the Bank has expanded its activity in the finance market, it has been keen to raise the quality of its loans portfolio, as evidenced by the high quality of its customer loan portfolio to 95.8% by the end of 2024 compared to 90.9% by the end of 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 to 3.243 billion pounds in 2023, marking an increase of 2.298 billion pounds.

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.

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.

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