SC Bank's Net Profits jump 134.5%, recording EGP 628 mn in H1-2023

The separate financial statements of Suez Canal Bank, ending on June 30 of the current year, revealed a net profit increase of 134.5%, reaching EGP 628.042 bn during the first half of 2023, compared to EGP 267.832 mn during the same period in 2022, achieving an increase of EGP 360.210 bn.

Pre-tax profit soared by 162.01%, reaching EGP 1.234 bn during the first half of 2023, compared to EGP 471 mn during the first half of 2022.

The bank's total assets witnessed a growth rate of 16.7%, during the first half of the current year, reaching EGP 87.1 bn by the end of June 2023, compared to EGP 74.7 bn by the end of December 2022.

Total customer loans increased with a growth rate of 19.96% during the first half of current year, to record EGP 35.2 Bn by the end of June 2023, compared to EGP29.4 bn by the end of December 2022, an increase of EGP 5.9 bn.

Furthermore, the bank succeeded in increasing the total portfolio of customer deposits by EGP 7.1 bn, growing at a rate of 10.84% during the first half of the current year, amounting to EGP 72.9 bn by the end of June 2023, compared to EGP 65.8 bn by the end of December 2022.