Akef El Maghraby's Strategy pushes SC Bank towards achieving record growth in its deposit portfolio within one year

Suez Canal Bank has witnessed a record rise in its financial indicators since Akef Al-Maghrabi assumed the position of CEO of the bank in early April 2024. This period was accompanied by an ambitious leadership vision and advanced strategies aimed at achieving comprehensive and sustainable growth in all sectors of the bank.

In this episode of Decision Makers, we discuss the impact of the «Akef Al-Maghribi» strategy on increasing customer confidence in the bank and the growth of its deposit portfolio, as the bank was able, under its leadership, to achieve record growth in its total deposits by 62%, doubling the size of the portfolio by about 1.5 times in just one year, recording 151.32 billion pounds by the end of March 2025, compared to 93.63 billion by the end of March 2024.

This strong increase in the total deposits of Suez Canal Bank customers is due to the remarkable growth in the size of its institutional deposit portfolio, which jumped by about 65% in just one year, reaching 126.92 billion pounds by the end of March 2025, compared to 77.04 billion by the end of March 2024, recording an increase of 49.89 billion pounds.

The bank's total individual deposit portfolio also contributed to this increase, as it recorded a growth rate of 47% during the period under analysis, recording 24.39 billion pounds by the end of March 2025, compared to 16.59 billion by the end of March 2024.

In general, the efforts of «Al-Maghribi» resulted in the bank recording strong growth rates in its main financial indicators within a short period of time, as the bank's net profits achieved the highest annual growth rate during the last 8 years at 148%, reaching 5.68 billion pounds during 2024, compared to 2.29 billion during 2023, thus snatching second place on the list of «First Bank» listed banks with the fastest growth in net profits during 2024.

As for the development of the bank's net profits during the current year, it jumped at a growth rate of 114%, recording 1.31 billion pounds during the first quarter of 2025, compared to 611 million during the same period in 2024, thus topping the list of «First Bank» of banks operating in the Egyptian banking system with the fastest growth in net profits during the first quarter of 2025.