How Suez Canal Bank distributed its deposit portfolio among different currencies, after increasing by 30.08% during 2022.

Suez Canal Bank's deposit portfolio  jumped by 30.08%, to reach EGP65.8 bn  at the end of last year, compared to EGP50.59 bn at the end of 2021, an increase of EGP15.22 bn.

local currency

Egyptian pound acquired a huge share of total deposits, as its share reached 64.99% of total deposits of the bank.

Customer deposits in local currency increased by 13.79%, to reach EGP42.77 bn by the end of 2022, compared to EGP37.58 bn by the end of 2021, an increase of EGP5.18 bn.

foreign currency

Deposit portfolio in various foreign currencies jumped by 77.15%, reaching EGP23.03 bn at the end of 2022, compared to EGP13 bn at the end of 2021, an increase of EGP 10.03 bn, 35.01% of the bank’s total deposit portfolio.

The bank’s deposits in sterling pounds grew the fastest during the past year, as it jumped by 155.60%, to record EGP81.55 mn by the end of 2022, compared to EGP31.91 mn by the end of 2021, an increase of EGP49.64 mn, 0.12%. of the total bank deposits.

Deposits in US dollars witnessed a significant growth over the past year, as it jumped by 86.08%, to record EGP21.76 bn by the end of 2022, compared to EGP11.69 bn by the end of 2021, an increase of EGP10.07 bn, 33.07% of the bank’s total deposit portfolio.

The bank’s deposits in euro recorded a slight decline, fell to EGP1.16 bn at the end of 2022, compared to EGP1.26 bn at the end of 2021, 1.76% of the bank’s total deposits.

The bank’s deposit portfolio in other foreign currencies jumped by 48.66%, to reach EGP31.21 mn by the end of 2022, compared to EGP20.99 mn by the end of 2021, an increase of EGP10.22 mn.

The bank strengthened its financial position, reaching EGP 74.67 bn by the end of 2022, compared to EGP57.43 bn by the end of 2021, achieving a growth rate of 30.01%, and an increase of EGP17.24 bn.

Its financing to clients also increased, as its total loans jumped to EGP32.14 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.

 Suez Canal Bank achieved a strong profits during the past year, as its net profit exceeded EGP one bn, recording EGP 1.04 bn in 2022, compared to EGP604.68 mn in 2021, an annual growth rate of 72%, an increase of EGP435.36 mn.