SC Bank achieves a surge in personal loans, its portfolio doubles 20 times in 5 years

The separate financial statements of Suez Canal Bank revealed unprecedented growth in its personal loans portfolio over the past 5 years, with the bank's total personal loans jumping by 2,332%, reaching EGP 4.33 bn by the end of June 2024, compared to EGP 178 mn by the end of 2018, with an increase of EGP 4.15 bn, which means more than 20 times during this period.

Highlighting the growth rates in the Bank's personal loans during the period under analysis, 2019 was the fastest growing, with its personal loan portfolio jumping by 178% year-on-year, registering EGP 494 mn by the end of 2019, compared to EGP 178 mn by the end of 2018, an increase of EGP 316 bn.

Suez Canal Bank's personal loan portfolio increased by 89.21% in 2021, with an increase of EGP 752 mn, to register EGP 1.60 bn by the end of 2021, compared to EGP 843 mn by the end of 2020.

The year 2022 saw the largest increase in personal loans to the bank, after registering a value of EGP 2.60 bn by the end of 2022, compared to EGP 1.60 bn by the end of 2021, with an increase of about EGP 1 bn.

As for the portfolio's performance during the first half of this year, it rose by 20.55%, reaching EGP 4.33 bn by the end of June 2024, compared to EGP 3.59 bn by the end of 2023, with an increase of EGP 738 bn

It should be noted that the retail sector loans have jumped by 760% over the past five years, reaching EGP 4.467 bn by the end of June 2024, compared to EGP 519 mn by the end of 2018.

Total customer loans and facilities increased by EGP 23.65 bn during the analysis period, exceeding EGP 42 bn compared to EGP 18.42 bn by the end of 2018, a growth of %128