SC Bank’s growth accelerates to 51.72% during Q1-2023
First Bank
Suez Canal Bank’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 51.72%, compared to 16.55% during Q4-2022.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 160.58% during Q1-2023.
It also achieved a growth in Total loans and facilities to customers at a rate of 13.73% during Q1-2023, and an increase in both asset and deposit portfolios by 17.76% and 14.83%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-22 to achieve a growth rate of 34.08%.
The bank’s Total deposit portfolio increased by 13.78% during Q4-22, asset as well as loan portfolios increased by 11.67% and 6.68%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
Indicators of Suez Canal Bank
| # | Indicators | Value At Q1-2023 | Growth rate % | Value At Q2-2022 | Growth rate % |
|---|---|---|---|---|---|
| 1 | Net profits | 250.867 Million pounds | 160.58 % | 305.289 Million pounds | 34.08 % |
| 2 | Total Assets | 87.925 Billion pounds | 17.76 % | 74.667 Billion pounds | 11.67 % |
| 3 | Total customer deposits | 75.559 Billion pounds | 14.83 % | 65.803 Billion pounds | 13.78 % |
| 4 | Total customer loans | 36.55 Billion pounds | 13.73 % | 32.137 Billion pounds | 6.68 % |
| 5 | Composite Growth | 51.72 % | 16.55 % |
