SC Bank customer deposits grow by 14%, reaching EGP 75.1 bn At 9M-2023

The financial statements of Suez Canal Bank, Which ended on September 30th of last year revealed a growth in the customer deposit portfolio by approximately 14%, with an increase of EGP9.3bn during the first 9 months of 2023.

The portfolio of customer deposits at the bank reached EGP 75.116 bn, by the end of September 2023, compared to EGP 65.803 bn by the end of December 2022.

Corporate deposits portfolio grew by 14.6%, reaching a value of EGP 60.74 bn, an increase of EGP 7.745 bn by the end of September 2023, compared to EGP 52.994 bn by the end of December 2022.

The total portfolio of retail deposits increased by 12.2% during the first 9 months of the last year, rising from EGP 12.809 bn at the end of December 2022 to reach EGP 14.37 bn by the end of September 2023.

Examining the components of the customer deposits portfolio, “on-demand deposits” surged by 4% with an increase of EGP 756 mn during the first 9 months of the last year, reaching approximately EGP 19.72 bn by the end of September 2023, compared to EGP 18.97 bn by the end of December 2022.

Additionally, the size of the “term and notice deposits” portfolio Jumps by 23.6%, registering an increase of EGP 8.13 bn during the first 9 months of 2023, reaching EGP 42.602 bn by the end of September 2023, compared to EGP 34.47 bn by the end of December 2022.