SC Bank's Loans to deposit ratio recorded 48.32% By June- 2023End

The separate financial statements of Suez Canal Bank, which ended on June 30, 2023, revealed that Loans to deposit ratio registered 48.32% at the end of June 2023 compared to 48.84% at the end of December 2022.

The bank has achieved remarkable growth in its main indicators, as net profits increased by a growth rate of 134.5% during the first half of current year, to record EGP 628.042 mn during the first half of 2023, compared to EGP 267.832 mn during the same period of 2022, with an increase of EGP 360.2mn.

The bank was able to increase its deposit portfolio by EGP 7.13 bn, achieving a growth rate of 10.84% during the first half of this year, to record EGP 72.9 bn by the end of June 2023, compared to EGP 65.3 bn by the end of December 2022.

In addition, The bank was able to raise granting of credit to customers by EGP 3.11 bn, as the Total portfolio of customer loans increased by 9.67% during the first half of the current year, reaching EGP 35.25 bn by the end of June 2023, compared to EGP 32.14 Bn by the end of December 2022.

At the level of financial position, SC Bank achieved a growth rate of 16.70% during the first half of this year, as total assets recorded around EGP 87.14 bn by the end of June 2023, compared to EGP 74.67 bn by the end of December 2022, achieving an increase of EGP 12.47 bn.