Suez Canal Bank posts a historic jump in net profit by 94.91% in 9M

Suez Canal Bank achieved a historic jump of 94.91% in its net profits generating EGP734.8 million during 9 months, compared to 377 million in the same comparable period a year earlier, according to its latest financial results.

However, total customer loans jumped by 17.30%, to record EGP30.1 billion pounds at the end of September, compared to 25.7 billion at the end of 2021 with an increase of 4.4 billion pounds.

Moreover, SCB total deposits recorded a growth rate of 14.32% during9M\2022 recording 57.8 billion compared to 50.6 billion at the end of December 2021.

In addition, the bank’s asset portfolio increased by 16.42% during9M\2022 increasing from EGP 57.4 billion at the end of December 2022 to EGP 66.9 billion at the end of September 2022.