Suez Canal Bank Tops listed banks in focusing on syndicated loans by end of 2022

Suez Canal Bank's syndicated loans obtained 29.89% of total loans, topping  First Bank list in focusing on syndicated loans by the end of 2022.

syndicated loans portfolio increased to EGP9.61 bn by the end of 2022, compared to EGP8.24 bn by the end of 2021, achieving a growth rate of 16.56%, and an increase of EGP1.37 bn.

Its total loan portfolio jumped to EGP 32.14 bn by the end of 2022, compared to EGp25.68 bn by the end of 2021, achieving a growth rate of 25.13%, and an increase of EGP6.45 bn.

Retail banking and corporate sectors finance witnessed a remarkable growth. In terms of individual loans, it jumped 54.1%, to reach EGP 2.76 bn at the end of 2022, compared to EGP1.79 bn at the end of 2021, an increase of EGP967.21 mn.

The bank’s financing portfolio for corporates jumped by 22.97%, to reach EGP29.38 bn at the end of last year, compared to EGP 23.89 bn at the end of 2021, an increase of EGP5.49 bn.

The bank strengthened its financial position, reaching EGP 74.67 bn by the end of 2022, compared to EGP 57.43 bn by the end of 2021, achieving a growth rate of 30.01%, and an increase of EGP17.24 bn.

Depositors’ confidence increased by 30.08%, to reach EGP 65.80 bn by the end of 2022, compared to EGP50.59 bn by the end of 2021, an increase of EGP15.22 bn.

Net profits recorded EGP 1.04 bn in 2022, compared to EGP 604.68 mn in 2021, with an annual growth rate of 72%, and an increase of EGP435.36 mn.