SC Bank top the fastest growing private sector bank in direct loans in the last 3 years
Mai El-Kafoury
Suez Canal Bank has achieved remarkable growth in its direct loans to corporates over the past 3 years, which is evident in the increase in the size of its portfolio by about 402.7%, reaching EGP 19.75 bn by the end of 2024, compared to EGP 3.93 bn by the end of 2021.
This strong performance prompted the bank to top the «First Bank» list of the fastest growing private sector banks operating in the Egyptian banking sector in direct loans to corporates in the last 3 years.
The bank's direct corporate loan portfolio has witnessed remarkable development over the past 3 years, recording a growth of 70% in 2022, followed by a decline of 35% in 2023, before rising again strongly, achieving an unprecedented jump of 355% in 2024.
It is worth noting that Suez Canal Bank announced the results of its operations for the first quarter of this year, which revealed an increase in its net profits to EGP 1.311 bn during the first quarter of 2025, compared to EGP 611.248 mn during the same period in 2024, with a growth rate of 114.41%, and a total increase of EGP 699.339 mn.
The bank’s profits before income taxes reached EGP 1.84 bn during the first quarter of 2025, compared to 836.7 million EGP during the same period in 2024, with a growth rate of 120.34%, an increase of more than EGP one billion.
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, an increase of EGP 23 bn.
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, to EGP 90.9 bn by the end of March 2025, recording an increase of EGP 11.7 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.
