SC Bank tops the fastest growing banks in corporate deposits during 2024

Suez Canal Bank achieved strong performance in its portfolio of corporate deposits during the past year, as its portfolio increased at a growth rate of 92.92% and an increase of 55.07 billion pounds during the past year, recording 114.34 billion pounds by the end of 2024, compared to 59.27 billion pounds by the end of 2023.

This strong performance prompted «Suez Canal» to top «First Bank»’s list of the fastest growing banks in corporate deposits during 2024, compared to 19th place in 2023.

The bank was also able to achieve strong growth in its portfolio of retail deposits as well, as it increased by 46.95%, with an increase of about 6.75 billion pounds during the year 2024, reaching 21.13 billion pounds by the end of last year, compared to 14.38 billion pounds 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 increased 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.

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