SC Bank tops Fastest growing banks in corporate loans during 2024

Suez Canal Bank significantly expanded its granting of credit to companies during the past year, which is evident in the increase in its portfolio of corporate loans (including small loans for economic activities) by about 120.57% during the past year, to record 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. This strong performance prompted the bank to top the «First Bank» list of the fastest growing banks in corporate loans (including small loans for economic activities) during 2024, after it was ranked seventeenth in 2023. Although the bank expanded its activity in the institutional financing market, it was keen to raise the quality of its portfolio, which is evident in the increase in the quality of its corporate loans portfolio to 95.6% by the end of 2024, compared to 90.1% by the end of 2023. In general, Suez Canal Bank achieved strong performance in its financial indicators during the past year, as its net profits jumped to 5.681 billion pounds during 2024, compared to 2.293 during 2023, with a growth rate of 147.7%, and a total increase of 3.4 billion pounds, recording the fastest annual growth in 8 years, and its largest increase value ever. Net interest income increased at a growth rate of 70.85%, reaching 5.541 billion pounds in 2024, compared to 3.243 billion pounds in 2023, recording an increase of 2.298 billion pounds. Net fees and commissions income increased to 979,914 million pounds during 2024, compared to 660.68 million pounds during 2023, a growth rate of 48.32%, and a total increase of 319,234 million pounds. Its portfolio of assets jumped by about 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 at a growth rate of 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 increased by about 113.30%, with 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.