Suez Canal Bank (SCB) delivered strong financial results during the first half of 2026, supported by robust growth across its core banking activities despite a macroeconomic environment marked by easing inflation and a cumulative 500 basis-point reduction in domestic policy rates since June 2025.
Net interest income increased by 47.4% year-on-year to EGP 5.7bn during the first half of 2026, while net profit rose 17.7% to EGP 3.63bn. In the second quarter alone, net interest income reached EGP 3.1bn, up 41.8% year-on-year, while net profit increased 12.3% to EGP 1.99bn.
The bank’s strong financial performance was underpinned by continued balance sheet expansion. Customer deposits increased by 14.3% to EGP 238.9bn in June 2026, compared with EGP 209bn in 2025.
Growth was primarily driven by local currency deposits, which rose 19.3% to EGP 171.9bn, increasing their share of total customer deposits to 72% from 69% in 2025.
SCB also achieved a more diversified funding base, supported by strong growth in retail deposits, which surged 61.5% to EGP 60.3bn and accounted for 25.2% of total deposits, compared with 17.9% in 2025. Corporate deposits increased by 4% to EGP 178.7bn, representing 74.8% of total customer deposits.
The bank said the growth reflects its continued focus on building a diversified and resilient funding base capable of supporting future balance sheet expansion and rising demand for credit.
On the lending side, net customer loans increased by 10.8% to EGP 135.6bn in June 2026. Local currency loans rose 11.1% to EGP 119.2bn, while foreign currency loans increased 8.9% to EGP 16.4bn.
Growth was led by the corporate loan portfolio, which expanded 10.1% to EGP 122.8bn and continued to account for around 91% of total customer loans. Retail lending recorded faster growth, rising 17% to EGP 13.3bn and representing approximately 10% of the loan portfolio, reflecting the bank’s continued efforts to strengthen its retail banking franchise alongside its established corporate business.
The balanced expansion across currencies and customer segments demonstrates SCB’s strategy of supporting credit demand while maintaining a diversified loan portfolio.
Strong earnings generation, disciplined balance sheet expansion and resilient margins resulted in a return on average equity (ROAE) of 33.42% and a return on average assets (ROAA) of 2.52% as of June 2026.
The bank also maintained strong capitalisation, with the capital adequacy ratio (CAR) standing at 18.02% and the leverage ratio improving to 6.57%, compared with 6.43% in 2025.
During the period, SCB completed an increase in its paid-up capital to EGP 10bn from EGP 6.5bn, while shareholders’ equity rose 14.3% to EGP 23.2bn.
Commenting on the results, Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said the performance reflects the successful implementation of the bank’s strategy to achieve sustainable and balanced growth by strengthening its business sectors and developing banking solutions tailored to customers’ needs, businesses and future aspirations.
He added that the bank continues to invest in digital transformation and geographical expansion to broaden its customer base and strengthen its market position.
El Maghraby said the results reflect SCB’s vision of providing integrated, customer-centric banking solutions that address customers’ personal, savings, investment and financing needs while supporting businesses of all sizes, reinforcing the bank’s position as a comprehensive banking partner.
During the first half of 2026, SCB continued strengthening its role as an integrated banking and investment partner for corporates by providing a broad range of corporate finance solutions, including the structuring, arranging and underwriting of syndicated and structured financing as well as debt instruments.
These services helped meet the financing and liquidity requirements of companies and major projects, particularly across strategic and high-growth sectors.
The bank also expanded its services for business owners and affluent customers through the launch of Privé, its Affluent & Private Banking proposition, offering a premium banking experience that combines personalised financial and investment solutions with enhanced privacy.
SCB further strengthened its wealth management offering through its partnership with Art D’Égypte, integrating art investment advisory services into the Privé platform and providing customers with financing solutions for acquiring artworks.
In addition, the bank launched its exclusive “Voyage” travel programme for Visa Signature, Visa Infinite and Visa Infinite Privilege cardholders, offering a range of premium travel benefits and enhancing the banking experience for Elite Star and Privé customers.
Alongside its support for large corporates, SCB continued expanding financing solutions for small and medium-sized enterprises (SMEs), including the launch of a fully integrated digital financing journey for small businesses aimed at accelerating loan approvals and improving customer experience.
The bank also introduced specialised financing programmes for doctors and medical centres, alongside flexible financing solutions designed to support the growth and expansion of medium-sized companies.
SCB further expanded its Payroll services, enabling businesses to manage salary payments more efficiently while introducing employees to a wider range of banking products, including financing, payment cards, savings and investment solutions.
Digital transformation remained a strategic priority during the period. The bank enhanced its mobile banking application, introduced instant transfer services and launched its corporate internet banking platform, enabling businesses to manage transactions securely and efficiently from anywhere.
SCB also continued adopting artificial intelligence-powered applications to improve operational efficiency and enhance customer experience.
As part of its geographical expansion strategy, the bank opened new branches in Sohag and Zamalek Club during the first half of 2026, bringing its nationwide network to 57 branches.
On sustainability, SCB established a comprehensive Environmental and Social Management System (ESMS) in line with international standards to integrate environmental and social considerations into its financing activities.
The bank also published its 2025 Sustainability Report and introduced a Supplier Code of Conduct to strengthen environmental, social and governance (ESG) standards across its supply chain.
The number of SCB locations certified under the international EDGE Advanced green building standard reached seven during the period, while the bank also completed financing transactions for energy efficiency projects under the GEFF Egypt II programme.
SCB continued expanding its corporate social responsibility activities, implementing around 12 community initiatives during the first half of 2026 covering healthcare, education, economic empowerment and social solidarity, in line with the Central Bank of Egypt’s financial inclusion objectives and Egypt Vision 2030.
The bank also invested in developing its workforce, receiving the Association of Chartered Certified Accountants (ACCA) Approved Employer accreditation in recognition of its commitment to professional development and continuous learning.
SCB’s achievements during the first half of 2026 were recognised through around 21 awards from local, regional and international institutions.
