SC Bank’s loans to the industrial sector rose to EGP 9.8 bn by the end of June 2024
First Bank
The separate financial statements of Suez Canal Bank for the financial period ended June 30 revealed that the Bank's loans for the industrial sector rose to EGP 9.78 bn by the end of the first half of this year, compared to EGP 9.67 bn by the end of 2023, with an increase of EGP 110 mn.
Syndicated loans portfolio for the industrial sector increased by 28.50%, with an increase of EGP 541 mn during the first half of this year, from EGP 1.89 bn by the end of 2023, to EGP 2.44 bn by the end of June 2024.
The relative weight of the Syndicated loans for this activity increased to account for 24.95% of its total loans to the industrial sector by the end of June, compared to a relative weight of 19.63% by the end of December 2023
The Bank's direct loans to industrial activity rose to EGP 681 mn by the end of June 2024, compared to 605 mn by the end of 2023, to grow by 15.56%, an increase of about EGP 76 mn.
Direct loans’ relative weight increased marginally granted to industrial activity at SC Bank to receive 6.97% of total loans for this activity by the end of June 2024, compared to 6.26% by the end of last year
Debit Current account balances of the industrial sector recorded about EGP 6.66 bn for industrial activity, constituting the largest proportion of loans for the sector of about 68.09% by the end of June. The industrial sector contributed a share of 26% of the total corporate loans of the Suez Canal Bank by the end of June 2024, and accounted for about 23.24% of the bank's total customer loans during the same period
It is worth mentioning that corporate loans of Suez Canal Bank rose by 12.59%, registering EGP 37.60 bn by the end of June 2024, compared to EGP 33.40 bn by the end of 2023, with an increase of EGP 4.21 bn.
The Bank's total customer loans increased at a 13.36% growth rate, with an increase of EGP 4.96 bn in the first 6 months of 2024, to register EGP 42.07 bn by the end of June, compared to 37.11 bn by the end of 2023. For more information about SC Bank and its achievements, click more
