Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said the bank is continuing its growth trajectory and reinforcing its position among Egypt’s leading banks, supported by a strong financial standing and robust profitability during the first quarter (Q1) of 2026.
El Maghraby revealed that the bank’s net profit climbed 25% year-on-year to EGP 1.6bn in March 2026, compared to EGP 1.3bn in the same period of 2025.
He attributed the growth primarily to a 55% increase in net interest income, which rose to EGP 2.6bn, up from EGP 1.7bn in the corresponding period last year.
Suez Canal Bank’s total financial position expanded by 13% to EGP 306bn in March 2026, compared to EGP 270bn at the close of 2025. The growth was driven by a 10% increase in customer deposits, which reached EGP 229bn, up from EGP 209bn.
The bank also recorded continued expansion in its lending activity, with the net loans and facilities portfolio increasing 9% to EGP 133bn in March 2026, compared with EGP 122bn in 2025. Net corporate loans rose 8% to EGP 120.6bn from EGP 111.5bn.
According to El Maghraby, the growth in the financing portfolio was supported by diversified lending across key sectors, including agriculture, contracting, financial services, real estate and tourism. The diversified exposure contributed to broader risk distribution and an expanded customer base.
Meanwhile, the retail banking portfolio grew by 12% to EGP 12.7bn in March 2026, compared with EGP 11.4bn in 2025, reflecting the bank’s continued expansion in individual banking services and strengthening market presence in the retail segment.
