SC Bank’s loans to deposit ratio rose to 50.39% by end of 2023

The financial statements of Suez Canal Bank, ending on December 31 of the previous year, revealed an increase in the loans to deposit ratio of the bank to 50.39% by the end of December 2023, compared to 48.84% by the end of December 2022.

The bank experienced development in its key indicators, with the deposit portfolio growing at a rate of 11.92%, reaching a value increase of around EGP 7.84 bn during the last year, totaling EGP73.65 bn by the end of December 2023, compared to EGP65.80 bn by the end of December 2022.

The bank increased credit issuance to its clients by approximately EGP4.98 bn the last year, with the total loan and facilitation for customer growing at a rate of 15.49%, reaching EGP37.11 bn by the end of December 2023, compared to EGP32.14 bn by the end of December 2022.

On the financial position front, the bank achieved a growth rate of 37.86%, with an increase of EGP28.27 bn during the last year, recording total assets of around EGP102.94 bn by the end of December 2023, compared to EGP74.67 bn by the end of December 2022.

Suez Canal Bank’s net profits surged by 120.48%, with an increase of EGP 1.25 bn, registering EGP 2.293 bn during 2023, compared to EGP 1.040 bn during 2022.