Suez Canal Bank’s financial position increases by 13.3 in Sep. 2018

Suez Canal Bank announced that its financial position has reached 43 billion Egyptian pounds in September 2018 with an increase of 13.3 percent compared to 40 billion pounds in December 2017, its chairman Hussein El Refaie.

He added that this leap has been induced by an increase in the clients deposits by 14 percents to reach 35.7 billion Egyptian pounds in September 2018in comparison to 31.3 billion pounds in December 2017.

El Refaie further noted that the bank has succeeded in increasing its clients’  loans and facilities portfolio by 21.1 percent to record 12.4 billion pounds in September 2018 compared to 10.2 billion pounds in December 2017, resulted from an increase in the syndicated loans portfolio.

He noted that the increase in loans achieved at the beginning of the second quarter of the year, which reflected positively on the bank’s profits in this period.

The bank made a net profit of 330.7 million pounds during  January-September 2018 compared to 301 million pounds a year earlier with an increase of 10 percent.