Suez Canal Bank's net profits soars by 72%, records EGP1.04 bn, At 2022

Financial statements of Suez Canal Bank, which ended on December 31, 2022, revealed an increase in the bank’s net profits, with a growth rate of 72%, to record EGP1.040 bn in 2022, compared to EGP 604.7 mn in 2021.

Total loans and facilities to customers increased by 25.13% during 2022, an increase of EGP6.455 bn, to reach EGP32.137 bn at the end of December 2022, compared to EGP 25.682 bn at the end of December 2021.

Total deposits portfolio jumped at a growth rate of 30.07% over the past year, after the bank was able to increase its deposits by 15.214 bn, to record EGP 65.803 bn at the end of December 2022, compared to EGP50.589 bn at the end of December 2021.

Moreover, Total assets jumped by 30.01% during 2022, to record EGP74.667 bn at the end of December 2022, compared to EGP57.431 bn at the end of December 2021.