SC Bank’s net profits jump by 188%, recording EGP 1.8 bn during H1-2024
First Bank
The financial statements of Suez Canal Bank, ending on June 30, 2024, revealed that the bank's net profit increased by 188%, reaching EGP 1.808 bn during the first 6 months of the current year, compared to EGP 628.042 mn during the same period of 2023, with an increase of EGP 1.180 bn.
Pre-tax profit soared by 87.5%, reaching EGP 2.314 bn during the first Half of 2024, compared to EGP 1.234 bn during the same period of 2023, with an increase of EGP 1.080 mn.
Regarding the bank's financial position, the asset portfolio rose by 35.1% during H1 of the current year, reaching EGP 139.1bn by the end of June 2024, compared to EGP 102.9 bn by December 2023 end.
In addition, SC Bank's customer deposit portfolio rose to EGP 99.1 bn by the end of June 2024, compared to EGP 73.6 bn by the end of 2023, with a growth rate of 34.5% and an increase of EGP 25.4 bn.
The bank's total customer loans increased by EGP 5 bn during H1-2024 to record EGP 42.1 bn by the end of June 2024, compared to EGP 37.1 bn by the end of 2023.
