Suez Canal Bank's corporate loans jump by 131% in 5 years

The separate financial statements of Suez Canal Bank revealed that it has achieved a strong performance in the corporate sector over the past 5 years. The total corporate loans of the bank jumped by 130.68%, reaching EGP 37.61 bn by the end of June 2024, compared to 16.30 bn by the end of 2018, with an increase of EGP 21.30 bn during this period

Highlighting the growth rates in the portfolio of corporate loans during the period under analysis, 2021 was the fastest growing, with corporate loans jumping by 25.04%, up from EGP 23.89 bn by the end of 2021 compared to EGP 19.11 bn by the end of 2020 on an annual basis, with an increase of EGP 4.79 bn.

2022 saw the largest increase in institutional loans to the bank, after registering EGP 29.38 bn by the end of 2022, compared with EGP 23.89 bn by the end of December 2021, to grow by 22.97% and an increase of EGP 5.49 bn.

The Suez Canal Bank's corporate loan portfolio increased over the past year at a growth rate of 13.68%, with an increase of more than EGP 4 bn, from EGP 29.38 bn by the end of 2022, to EGP 33.40 bn by the end of December 2023.

As for the growth of the Bank's corporate loans portfolio during the first 6 months of this year, it achieved a growth rate of 12.59% and an increase of EGP 4.21 bn, while corporate loans rose at growth rates of 8 .30%, 8.23% in 2021 and 2020 respectively

Suez Canal Bank did not lose sight of the retail loans sector, jumping by 760% over the past 5 years, reaching EGP 4.467 bn by the end of June 2024, compared to EGP 519 mn by the end of 2018.

Total loans and facilities for customers at the bank rose by EGP 23.65 bn during the period under analysis, exceeding EGP 42 bn compared to 18.42 bn by the end of 2018, with growth of 128%.