(2 minutes read)
· The Suez Canal Bank (SCB) clocked 24% growth in net profit before appropriation, reaching EGP 615 million in September 2020 as compared to EGP 497million in September 2019
· The increased profit was on account of 26% net interest income and 11% growth in net revenue. Presently, the loan and facilities portfolio is EGP 17.1 billion as on September 2020 as against EGP 15.4 billion in December 2019
The Suez Canal Bank (SCB) clocked 24% growth in net profit before appropriation, reaching EGP 615 million in September 2020 as compared to EGP 497million in September 2019. The increased profit was on account of 26% net interest income and 11% growth in net revenue. Presently, the loan and facilities portfolio is EGP 17.1 billion as of September 2020 as against EGP 15.4 billion in December 2019.
The personal loan portfolio witnessed remarkable growth during the first nine months of this year as against a year ago period figures. In absolute terms, it peaked to EGP 800 million, an increase of 62%. The SME loan portfolio increased by 25% and as on September this year, it reached EGP 1.3billion. The syndicated loan portfolio has risen to EGP 6.2bn, registering a growth rate of 8%.
