SC Bank's retail loans grow by 35%, reaching EGP 3.7 bn during 2023

The separate financial statements of SC Bank, for the period ending on December 31 of the last year, have revealed a growth in the bank's portfolio of retail loans by a rate of 34.68% during 2023, amounting to an increase of EGP 956 Mn.

The size of the bank's portfolio of Retail loans reached EGP 3.71 bn by the end of December 2023, compared to EGP 2.76 bn by the end of December 2022, accounting for 10% of the total loans by end of 2023.

Contributing to this growth, the size of the bank's personal loans increased by 38.4%, with an increase of EGP 997 mn during the last year, moving from EGP 2.60 bn by the end of December 2022, to reach EGP 3.59bn by the end of December 2023, accounting for 96.7% of the total retail loans.

SC Bank's credit cards rose by 33% and witnessed an increase of EGP 12 mn during the last year to record EGP 48mn by the end of December 2023, compared to EGP 36 mn by the end of December 2022.

It is worth noting that the total customer loan portfolio increased by a growth rate of 15.5% and an increase of EGP 4.98 bn during last year, reaching EGP 37.11 bn by the end of December 2023, compared to EGP 32.14bn by the end of December 2022.