Suez Canal Bank’s Chairman awarded CEO of the year by International Finance

International Finance magazine awarded Hussein Refaie, Chairman and Managing Director of the Suez Canal Bank the CEO of the year Award for 2022. He received the award for Suez Canal Bank’s impressive financial performance and successful business model.

In recognition of the efforts and achievements of the bank on many fronts, SCBank has been awarded 19 classified awards in past five years.

The award goes to leaders that have provided the highest standards of development, growth, and excellence throughout their organisations.

This honour is a reflection for the persistence of success for SCBank after being ranked among Forbes’ list of the 50 most powerful Egyptian organisations that are listed in the Egyptian Exchange (EGX) for 2022.

Moreover, the award comes as a result of the apparent developments witnessed in the bank during the past five years.

The award is a culmination of the recent developments that the bank has witnessed; the bank has achieved a qualitative leap in its products and services to keep pace with the latest modern technology.

International Finance is a premium business and finance magazine with a discerning focus on emerging markets published by UK’s International Finance Publications Limited.

The bank has also made it to Forbes list of top 50 Egyptian listed companies listed for the year 2022.

It is worth mentioning that the Suez Canal Bank’s net profit jumped by 94.91% during the first 9 months of 2022 to stand at EGP734.8 million compared to EGP377 million during the first 9 months of 2021.

Total customer loans increased by 17.30% to record EGP30.1 billion pounds at the end of last September, compared to EGP25.7 billion at the end of 2021 with an increase of EGP4.4 billion.

Moreover, Total deposits recorded a growth rate of 14.32% during the first 9 months of this year to record EGP 57.8 billion at the end of September 2022, compared to EGP50.6 billion at the end of December 2021.

Furthermore, the bank’s asset portfolio increased by 16.42% during the first 9 months of this year, to jump from EGP 57.4bn at the end of December 2022 to reach EGP 66.9bn at the end of September 2022.