SC Bank tops listed banks growth on First Bank lists during 9M-2024

Suez Canal Bank achieved outstanding performance during the first nine months of 2024, thanks to the fruitful efforts led by Akef El Maghraby,Chief Executive Officer and Managing Director of the Bank, in collaboration with his team, reflecting positively on the Bank's results during the first 9 months of 2024

This is evident when the Bank tops 10 of the lists issued by the classification centre of the website "First Bank" to measure and classify the financial performance of banks operating in the Egyptian market

Suez Canal Bank topped the list of the fastest growing listed banks in total customer loans during the first 9 months of 2024, after its portfolio volume rose by 49.67% and an increase of 18.43 billion pounds, to register 55.55 billion pounds by the end of September 2024, compared to 37.11 billion by the end of December 2023

The Bank also leads the First Bank list of the fastest growing listed banks in customer loans "after exchange rate neutralization" at a growth rate of 37.21% during the first 9 months of 2024

This is due to the expansion of the Bank's corporate loans, where it was able to rank first on the list of the fastest growing listed banks in the first 9 months of this year, after its portfolio volume increased by 51.12%, registering 50.48 billion pounds by the end of September 2024, compared to 33.40 billion by the end of December 2023, with an increase of 17.08 billion pounds

The Bank was also able to clinch first place on the list of the fastest growing banks in corporate direct loans after it was able to double its portfolio volume by 100% with an increase of 4.34 billion pounds during the first 9 months of this year, reaching 8.67 billion pounds by the end of September 2024, compared to 4.34 billion by the end of December 2023.

SC Bank took first place in the list of the best banks included in the asset coverage ratio for deposits by the end of last September, after the asset coverage ratio for deposits was about 137.43%, where its total asset portfolio recorded 147.53 billion pounds by the end of September 2024, while its portfolio was about 107.35 billion by the end of the same period of the year.

The Bank also ranked first among the fastest growing listed banks on the First Bank Growth Index during the first 9 months of this year. This was driven by strong net profit growth, which rose by 130.07% to take second place in the first 9 months of 2023.

Suez Canal Bank was also able to clinch second place on the list of the fastest growing banks and customer deposits during the first 9 months of this year, following its portfolio volume rise at a growth rate of 45.67%, to register 126.85 billion pounds by the end of September 2024, compared to 86.93 billion by the end of December 2023, marking an increase of 39.92 billion pounds

The Bank was able to take second place on the First Bank list of the fastest growing listed banks in credit card during the first 9 months of this year, after its portfolio volume increased at a growth rate of 185.74%, to 171.53 million pounds by the end of September 2024, compared to 60.03 million by the end of December 2023, with an increase of 111.50 million pounds

Suez Canal Bank was also able to take second place in the list of the fastest growing listed banks in total financial investments during the first 9 months of this year, after its portfolio volume increased by 27.11%, increasing by 6.33 billion pounds, registering 29.39 billion pounds by the end of September 2024, compared to 23.06 billion by the end of December 2023.

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