SC Bank's net profit jumps by 114% in Q1-2025, recording EGP 1.31 bn

The periodic financial statements of Suez Canal Bank, announced a short while ago on the official website of the Egyptian Stock Exchange for the financial period ending last March 31, revealed an increase in the bank’s net profits with a growth rate of 114.41% to reach EGP 1.311 bn during the first 3 months of 2025, compared to EGP 611.248 mn during the same period of 2024, with an increase of EGP 699.339 mn.

The bank’s profits before income taxes jumped at a growth rate of 120.34%, recording an increase of more than one billion pounds during the first 3 months of 2025 only, reaching EGP 1.84 bn, compared to EGP 836.7 mn during the same period in 2024.

Net interest income increased to EGP 1.68 bn during the first 3 months of 2025, compared to EGP 1.09 bn during the same period in 2024, after recording a growth rate of 54.05%, and an increase of EGP 589.5 mn.

Net fees and commissions income also increased by about 68.81% during the first quarter of this year, exceeding EGP 335 mn, compared to EGP 198.5 mn during the same period in 2024, with an increase of EGP 136.6 mn.

In terms of the bank’s financial position, its asset portfolio increased at a growth rate of 12.77% during the first quarter of this year, reaching EGP 203.2 bn by the end of March 2025, compared to EGP 180.2 bn by the end of 2024, with an increase of EGP 23.01 bn.

The customer deposit portfolio increased by about 11.70%, with an increase of EGP 15.8 bn during the first quarter of this year, to record EGP 151.3 bn by the end of March 2025, compared to EGP 135.5 bn by the end of 2024.

The bank’s total loan portfolio to customers jumped at a growth rate of 14.80% during the first quarter of this year, moving from EGP 79.2 bn by the end of 2024, and reaching EGP 90.9 bn by the end of March 2025, recording an increase of EGP 11.7 bn.