Suez Canal Bank seeks to pump funds in leasing , property development

Egypt’s state-owned Suez Canal Bank is set to pump new funds in leasing and property development sectors among other projects related to the private sector, The bank’s Chairperson Hussein El-Refaie said.

The bank’s loans portfolio has exceeded 12 billion Egyptian pounds by the end of September 2018 with an increase of 19 percent.

In addition, Suez Canal Bank seeks to increase its loan portfolio by 21 percent by the end of the next year, he added.

On the other hand, the portfolio of syndicated loans has increase from 2 billion pounds in June 2018 to 5 billion pounds by the end of November 2018.

El-Refaie further noted that the bank’s deposits portfolio has increased by 10 percent by the end of September 2018, while the SMEs portfolio has  registered 900 million pounds.

However, the bank’s financial position has increased from 40 million pounds to 50 million pounds by the end of September 2018.