Suez Canal Bank Investment Strategy by end of 2023
First Bank
The separate financial statements of Suez Canal Bank, ending on December 31 2023, revealed that Bank's asset portfolio has achieved a growth rate of 38%, and an increase of EGP 28.27bn, recording EGP 102.94 bn by the end of December 2023, compared to EGP 74.67 bn by the end of December 2022.
Analyzing the investment trends of SC Bank by December 2023 end:
Suez Canal Bank continued to allocate the largest share of its funds to granting loans, and balances with other banks came in second place, while the relative weight of financial investments declined to secure third place by the end of 2023.
Loans and facilities to customers
Despite the relative decline, the portfolio of loans and facilities to customers accounted for the largest share of the bank's investment trends, representing a relative weight of 32.8% of its assets by the end of December 2023, compared to 39.67% by the end of December 2022.
Net portfolio of loans and facilities to customers increased by a growth rate of 14.03% during the last year, reaching EGP 33.77 bn by the end of December 2023, compared to EGP 29.62 bn by the end of December 2022, with an increase of EGP 4.16 bn.
Balances with other banks
The relative weight of the balances with other banks item jumped to become the second largest relative weight of Suez Canal Bank's asset portfolio, accounting for 32.57% of its total assets by the end of December 2023, compared to 10.25% by the end of December 2022.
Suez Canal Bank's balances with other banks reached EGP 33.53 bn by the end of December 2023, compared to EGP 7.7 bn by the end of December 2022, representing a growth rate of 338% during the last year and an increase of EGP 25.87bn.
Total financial investments and T-bills
Total financial investments and T-bills ranked Third among the bank's investment trends, representing a relative weight of 22.40% of the bank's total assets by the end of December 2023, compared to 32.97% by the end of December 2022.
Total financial investments portfolio and T-bills in the bank amounted to EGP 23.06 bn by the end of December 2023, compared to EGP 24.62 bn by the end of December 2021.
Cash and balances with CBE
Despite a slight decline in the relative weight of cash and balances with CBE, it ranked fourth among the bank's investment trends, with a relative weight of 8.15% of the bank's total assets by the end of December 2023, compared to a relative weight of 11.74% by the end of December 2022, total value of cash and balances with CBE reached EGP 8.39 bn by the end of December 2023, compared to EGP 8.77 bn by the end of December 2022.
Other Assets
Other assets accounted for a relative weight of 2.64% of the bank's total assets at the end of last December, compared to 3.81% at the end of the December 2022, reaching a value of EGP3.1 bn at the end of December 2023, compared to EGP2.8 bn at the end of December 2022.
Bank's Trends in the Loan Market
By examining the components of the total loan portfolio, it is evident that the bank tends to grant credit to corporates more than Retail, given their higher relative weight at the end of 2023.
Corporate Loans
Total amount of corporate loans accounted for a relative weight of 90% of the bank's total customer loans at the end of December 2023, compared to 91.42% at the end of December 2022.
Total corporate loan portfolio at the bank increased at a growth rate of 13.68% and an increase of EGP4.02 bn during the last year, reaching EGP 33.40 bn at the end of December 2023, compared to EGP29.38 bn at the end of December 2022.
retail Loans
The relative weight of retail loans at the bank rose it accounted for a relative weight of 10% of the bank's total customer loans at the end of December 2023, compared to a relative weight of 8.58% at the end of December 2022.
Total retail loans of the bank Jumps by a growth rate of 34.68% and an increase of EGP 956 mn during the last year, to record EGP 3.71 bn by the end of December 2023, compared to EGP 2.76 bn by the end of December 2022.
