Suez Canal Bank’s Surplus Profit Hit EGP 124.9 Mln Last September

Suez Canal Bank’s pre-provision surplus profit surged to EGP 124.9 million at the end of last September, compared to EGP 61.6 million in the compared period.

According to the bank’s financial statements, the portfolio of loans and credit facilities fell by 424.6 million (7.8%), registering EGP 4.995 billion at the end of last September, compared to EGP 5.420 billion at the end of 2011.

The bank’s deposits portfolio rose by EGP 21.5 million, registering EGP 11.332 billion at the end of last September, compared to EGP 11.311 billion at the end of last year.

The bank’s funds and balances held by the Central Bank of Egypt (CBE) dropped to EGP 883.9 million at the end of last September, compared to EGP 1.5 billion at the end of last year. The bank’s balances held by other banks fell to EGP 1.810 billion at the end of Q3, compared to EGP 2.686 billion at the end of 2011.

The bank’s investments in treasury bills surged to EGP 3.271 billion at the end of last September, compared to 2.539 billion at the end of 2011.