SC Bank corporate loans grow by 20%, reaching EGP 40.2bn during Q1-2024

The financial statements of Suez Canal Bank, ending in March 31 2024, revealed that corporate loan portfolio of the bank increased with a growth rate of 20.33%, an increase of EGP 6.79 bn during the first quarter of the current year.

The total portfolio of corporate loans in the bank reached approximately EGP 40.19 bn by the end of March 2024, compared to EGP 33.40 bn by the end of December 2023.

The bank's Syndicated loans jumped by 30.67% to record EGP 14.29bn by the end of March 2024 compared to EGP 10.93bn by the end of December 2023, with an increase of EGP3.35bn.

Debit current accounts portfolio in the bank experienced a growth of 15.79%, with an increase of EGP 2.86bn during the first quarter of this year, reaching a value of EGP20.99bn by the end of March 2024, compared to EGP 18.13 bn by the end of December 2023.

Additionally, direct loan portfolio of the bank increased with a growth rate of 13.28%, reaching EGP 4.91 bn by the end of March 2024, compared to EGP 4.34 bn by the end of December 2023, an increase of EGP 576 mn.

Total loans and facilities for customers increased by 19.32%, reaching EGP 44.29 bn by the end of March 2024, compared to EGP 37.13 bn by the end of December 2023, an increase of EGP7.17bn.