Suez Canal Bank personal loans account for 94.15%, recording EGP 2.92 bn in March 2023

The financial statements of Suez Canal Bank for the period ending on March 31, 2023, revealed a significant increase in the share of personal loans in the bank's portfolio, reaching 94.15% of the total individual loans portfolio.

Total personal loans portfolio at the bank amounted to EGP 2.923 bn at the end of March 2023, compared to EGP 2.595 bn at the end of December 2022, representing a growth rate of 12.63% and an increase of EGP 327.9 mn during the first quarter of the current year.

Total Retail loans portfolio increased by 12.63% and recorded an increase of EGP 348.2 mn during the first quarter of the current year. It rose to EGP 3.105 bn at the end of March 2023, compared to EGP 2.757 bn at the end of December 2022, accounting for 8.49% of the total customer loans and facilities at the same period.

Current debit accounts at the bank increased by 14.19% with an increase of EGP 17.7 mn during the first quarter of the current year. It moved from EGP 124.9 mn at the end of December 2022 to EGP 142.6 mn at the end of March 2023.

Moreover, total credit card portfolio at the bank increased by 7% with an increase of EGP 2.6 mn during the first quarter of the current year. Its value reached EGP 39 mn at the end of March 2023, compared to EGP 36.5 mn at the end of December 2022.

It is worth mentioning that the total customer loans increased by 13.73% during the first quarter of the current year, amounting to around EGP 36.55 bn at the end of March 2023, compared to EGP 32.137 bn at the end of December 2022, with an increase of EGP 4.413 bn.