Decision Makers: Akef El Maghraby’s strategy drives strong profitability growth at Suez Canal Bank over two years

Suez Canal Bank witnessed a significant leap in its financial indicators following the appointment of Akef El-Maghrabi as Chief Executive Officer in March 2024. The bank adopted an ambitious strategy focused on expanding banking services and strengthening customer trust through innovative solutions tailored to the needs of both individuals and corporations.

In this episode of Decision Makers, we examine the role of Akef El-Maghrabi and the impact of his strategy on achieving strong growth in the profitability indicators of Suez Canal Bank over two years, alongside record growth rates in its key financial portfolios, reinforcing its position as one of the major players in the Egyptian banking market.

Regarding the development of profitability indicators since El-Maghrabi took over leadership, the return on average equity rose to 37.62% in 2025, compared to 34.45% in 2023.

The return on average assets also increased over the same period, reaching 2.85% in 2025, up from 2.58% in 2023.

These improvements are attributed to the bank’s ability to achieve a strong surge in net profits, which nearly doubled over a relatively short period—recording a growth rate of 180%—reaching EGP 6.42 billion in 2025, compared to EGP 2.29 billion in 2023, an increase of EGP 4.13 billion.

Looking at net interest income under El-Maghrabi’s leadership, it rose by 166.5%, reaching EGP 8.64 billion in 2025, compared to EGP 3.24 billion in 2023, an increase of EGP 5.4 billion.

Net fee and commission income also recorded growth of 123.6%, increasing by around EGP 816 million, to reach EGP 1.48 billion in 2025, compared to EGP 660.7 million in 2023.

Overall, El-Maghrabi’s efforts drove Suez Canal Bank to deliver exceptional performance, with its total financial position reaching EGP 270.12 billion by the end of 2025, compared to EGP 102.94 billion at the end of 2023, reflecting growth of 162.4% and an increase of EGP 167.18 billion.

On the lending side, the bank’s customer loan portfolio jumped by 273.4%, reaching EGP 122.37 billion by December 2025, compared to EGP 32.77 billion at the end of 2023, with an overall increase of EGP 89.59 billion.

Customer deposits also increased by EGP 135.4 billion over the period, reaching EGP 209.04 billion by the end of 2025, compared to EGP 73.65 billion at the end of 2023, representing growth of 183.9%.

The loan-to-deposit ratio stood at 58.5% by the end of 2025, compared to 44.5% at the end of 2023.

It is worth noting that all values and growth rates mentioned above are based on the bank’s standalone published financial statements for the periods under review.