Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, announced that the bank achieved a net profit of EGP 5bn in September 2025, compared to EGP 3.1bn in the same period of 2024—an increase of 62%. This strong performance was driven by a 58% rise in net interest income, which reached EGP 6.2bn, up from EGP 4bn.
The bank’s total assets recorded significant growth, rising 29% to EGP 231.5bn in September 2025, compared to EGP 180bn in 2024. This was supported by a 33% increase in customer deposits, which reached EGP 179.6bn, up from EGP 135.5bn.
Net equity also strengthened, increasing to EGP 18.7bn in September 2025, compared to EGP 13.9bn in 2024—a growth rate of 35%.
El Maghraby stated that the bank continued to expand its lending activities, with the net loan portfolio and customer facilities rising 40% to EGP 105bn, compared to EGP 75bn in last year. The corporate loan portfolio grew 37% to EGP 96bn, up from about EGP 70bn in 2024.
He added that the loan portfolio’s expansion reflects the bank’s diversified financing approach across key sectors, including agriculture, contracting, financial services, real estate and tourism. This diversification contributed to broader client coverage and improved risk distribution.
The bank’s retail loan portfolio also saw strong growth, rising 82% to EGP 9.7bn in September 2025, compared to EGP 5.3bn in 2024.
El Maghraby further revealed that the bank secured $50m in support from the International Finance Corporation (IFC) to refinance micro, small and medium enterprises (MSMEs). He noted that this financing will help create thousands of jobs and support economic development in Egypt. As part of the agreement, the IFC will also assist the bank in developing and managing environmental and social systems in line with global best practices.
He emphasised that this partnership represents an important milestone in the bank’s journey toward green and sustainable transformation—an increasingly vital priority for institutions in both the Egyptian and global markets. The initiative is also aligned with Egypt’s Vision 2030.
