SC Bank's Net Profits Jump by 120.51%, recording EGP 2.293 bn during 2023
First Bank
The separate financial statements of Suez Canal Bank, ending on December 31 of the last year, revealed an increase in the bank’s net profit with a growth rate of 120.51% during the last year, reaching EGP 2.293 bn during 2023, compared to EGP 1.040 bn during 2022, achieving an increase of EGP1.25bn.
The bank's net interest income rose by 71.56%, with an increase of EGP 1.35 bn reaching EGP 3.24 bn during 2023, compared to EGP 1.89 bn during 2022.
The bank's net fees and commissions income rose by 123.01%, reaching EGP 660.68 mn during 2023, compared to EGP 296.25 mn during 2022, an increase of EGP 364.43 mn.
At the level of the bank's financial position, The bank's total deposits portfolio jumped from EGP 65.802 bn at the end of 2022 to EGP 73.647 bn at the end of 2023, with a growth rate of 11.92% over the past year
customer loans increased by 14.03%, amounting to EGP 33.772 bn by end of 2023 compared to EGP 29.617 bn by the end of December 2022. an increase of EGP 4.155 bn.
