Suez Canal Bank witnesses a leap in its corporates loans portfolio over 3 years

Suez Canal Bank’s corporates loans portfolio witnessed a remarkable growth over the past three years, jumping by 58.33% to record EGP25.81 billion at the end of the first half of 2022, compared to EGP 16.303 billion at the end of 2018; achieving an increase of 9.51 billion pounds.

The bank’s corporates loans portfolio has seen its highest growth rate and highest value during the past year, as it jumped by 25.04% to record EGP 23.89 billion by the end of 2021, compared to EGP 19.11 billion by the end of 2020.

Thus, Suez Canal bank has occupied the second place on First Bank of fastest growing banks in terms of corporate loans by the end of 2021.

However, the bank’s corporates loans portfolio increased by 8.04% during the current year to record EGP 25.81 billion at the end of the first half of 2022, compared to EGP 23.89 billion at the end of 2021, an increase of EGP 1.92 billion.

In addition, corporates loans accounted for about 91.26% of the bank’s total loans portfolio at the end of last June. Yet, the personal loans accounted for 8.74% of the bank’s total loans portfolio at the end of last June, compared to 3.09% at the end of 2018.

It is noteworthy to mention that Hussein Refaey, the current chairman, was the one behind launching a new retail banking department within the framework of the restructuring plan that he successfully implemented to expand the bank's customer base.

Moreover, Suez Canal Bank’s total loan portfolio increased by 68.14% to reach EGP 28.29 billion at the end of the first half of 2022, compared to EGP 16.82 billion at the end of 2021 with an increase of EGP 11.46 billion.