SC Bank’s net profit jumps by 160.6%, records EGP 250.9 mn At Q1-2023

The Separate Financial Statements of Suez Canal Bank, which ended on March 31, 2023, revealed an increase in the bank’s net profit, with a growth rate of 160.58%, to record EGP 250.867 mn during the first quarter of 2023, compared to EGP 96.274mn during the same period of 2022, an increase of EGP 154.593 mn

SC Bank’s pre-taxes profits jumped by 237.68% to reach EGP 609.4 mn during the first quarter of 2023 compared EGP 180.5 mn during the same quarter of 2022, and an increase of EGP 428.9mn

Total loans and facilities to customers increased by a growth rate of 13.73% during the first quarter 2023, with an increase of EGP4.413 bn, to reach EGP 36.550 bn at the end of March 2023, compared to EGP 32.137 bn at the end of December 2022.

The bank’s total deposit portfolio increased by a growth rate of 14.83% during the first quarter of this year, after the bank was able to increase its deposits by EGP9.756 bn, to record EGP 75.559 bn at the end of March 2023, compared to EGP 65.803 bn at the end of December 2022.

Total assets of the bank increased by 17.76% during the first quarter of this year, to record EGP 87.925 bn at the end of March 2023, compared to EGP74.667 bn at the end of December 2022, an increase of EGP13.258 bn.