Latest news with #SuezCanalBank
Daily News Egypt
10-08-2025
- Business
- Daily News Egypt
Suez Canal Bank net profits surge 71% to EGP 3.1bn in H1 2025
Suez Canal Bank has reported a sharp rise in profitability for the first half of 2025, with net profits reaching EGP 3.1bn in June—up 71% from EGP 1.8bn a year earlier. CEO and Managing Director Akef El Maghraby said the performance was supported by a 52% jump in net interest income to EGP 3.9bn, compared to EGP 2.5bn in June 2024. The bank's total assets grew by 26% to EGP 227bn in June 2025, up from EGP 180bn at the end of 2024. Customer deposits climbed 29% to EGP 175bn from EGP 135bn a year earlier, reflecting stronger client confidence and deposit mobilisation. Net loans and customer facilities increased 23% to EGP 91.8bn, compared to EGP 74.9bn at the end of 2024. Corporate loans accounted for the bulk of the portfolio, rising 22% to EGP 84.8bn from EGP 69.7bn a year earlier. Loan growth was underpinned by financing across a broad range of sectors, including agriculture, contracting, financial services, real estate, and tourism—helping spread risk and broaden the client base. In retail banking, the loan portfolio expanded 36% to EGP 7.2bn, up from EGP 5.3bn at the end of 2024, as the bank continued to strengthen its consumer lending business.
Zawya
08-08-2025
- Business
- Zawya
Egypt: Suez Canal Bank sees 70.56% YoY higher profits in H1 2025
Arab Finance: Suez Canal Bank recorded 70.56% higher net profits after tax at EGP 3.083 billion in the first half (H1) of 2025, compared to EGP 1.807 billion, according to the financial statements. The bank reported net interest income amounting to EGP 3.867 billion at the end of June 2025, up year-on-year (YoY) from EGP 2.544 billion. Earnings per share (EPS) increased to EGP 4.17 in H1 2025 from EGP 2.45 in H1 2024. In the three-month period that ended on March 31st, 2025, the bank's net profits jumped by 114.41% YoY to EGP 1.310 billion from EGP 611.248 million. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Daily News Egypt
20-07-2025
- Business
- Daily News Egypt
Suez Canal Bank partners with CRIF Egypt to advance sustainability through Synesgy
Suez Canal Bank has signed a cooperation protocol with CRIF Egypt to introduce the Synesgy platform, reaffirming its commitment to advancing sustainability. This innovative platform enables clients to evaluate and improve their sustainability performance, aligning with the bank's dedication to adopting Environmental, Social, and Governance (ESG) principles in support of Egypt's Vision 2030 for sustainable development. The signing ceremony was attended by Akef El Maghraby, CEO and Managing Director of Suez Canal Bank; Shehab Zidan, Deputy CEO and Managing Director, along with the heads of Corporate Banking, Corporate Finance & Investment Banking, and Sustainability & Sustainable Finance departments. From CRIF, attendees included Marco Preti, CEO of CRIBIS D&B and General Manager of CRIF Group; Manjeet Chhabra, Managing Director of CRIF UAE & Egypt; and Emad Kozman, Country Manager of CRIF Egypt. This partnership highlights Suez Canal Bank's strategy to integrate ESG practices into its operations and empower clients—particularly small and medium-sized enterprises (SMEs)—to measure and strengthen their sustainability initiatives. Developed by CRIF, a global leader in digital solutions and business information, Synesgy provides a comprehensive suite of tools that enable businesses to assess their ESG performance and make informed, responsible business decisions. The Synesgy platform helps integrate sustainability standards into daily business operations by offering detailed key performance indicators and advanced tools for evaluating ESG compliance. These features allow businesses to proactively manage risks, align with regulatory expectations, and adhere to local and international sustainability standards. Moreover, adopting the platform can enhance a company's reputation, making it more appealing to investors and customers who prioritise sustainability. To ensure the effective adoption of Synesgy, Suez Canal Bank organised a dedicated workshop for senior executives, department heads, and relationship managers. This training equips them to better support clients in integrating the platform into their operations. This initiative aligns with Suez Canal Bank's broader vision to deliver innovative banking services that actively contribute to sustainable development goals. By enabling businesses to address environmental and social challenges, the bank is also helping unlock new avenues for sustainable economic growth in Egypt. Commenting on the partnership, Akef El Maghraby stated: 'This collaboration reflects the bank's dedication to embedding ESG into our banking practices and equipping our clients with the tools they need to make responsible decisions that enhance their business sustainability.' Marco Preti, CEO of CRIBIS D&B and General Manager of CRIF Group, added: 'We are pleased to partner with Suez Canal Bank to bring the Synesgy platform to Egypt. This marks an important step in supporting businesses to enhance their sustainability practices through advanced data and technology, helping them evaluate and improve their ESG performance.' CRIF is globally recognised as one of the leading credit rating agencies licensed by the European Securities and Markets Authority (ESMA). The company specialises in producing financial, commercial, and technical creditworthiness reports, alongside sustainability assessments that provide valuable insights for business, investment, and credit decision-making. Established in 1988 in Bologna, Italy, CRIF now operates in over 40 countries across four continents. Its services are used daily by more than 10,500 banks and financial institutions, 82,000 businesses, and over one million individual customers worldwide. Since 2016, CRIF has consistently been featured in the prestigious IDF FinTech Top 100 Rankings. Founded in 1978 as an Egyptian joint-stock company, Suez Canal Bank offers a wide range of banking and financial solutions tailored to the needs of corporate and individual clients. Through a network of 53 branches and a robust network of ATMs across Egypt, the bank aims to provide diverse, innovative products and services, as well as flexible financing options that feature competitive interest rates and convenient repayment plans.
bnok24
17-07-2025
- Business
- bnok24
Suez Canal Bank Partners with CRIF Egypt to Promote Sustainability through Synesgy Platform
Reaffirming its efforts in sustainability, Suez Canal Bank has signed a cooperation protocol with CRIF Egypt to introduce the Synesgy platform. This innovative platform enables clients to evaluate their sustainability performance, aligning with the bank's dedication to adopting Environmental, Social, and Governance (ESG) principles which supports Egypt's 2030 Vision for sustainable development The protocol signing ceremony was attended by Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, Mr. Shehab Zidan, Deputy CEO and Managing Director, along with heads of Corporate Banking, Corporate Finance & Investment Banking, and Sustainability & Sustainable Finance departments. From CRIF, Mr. Marco Preti, CEO CRIBIS D&B and General Manager CRIF Group, Mr. Manjeet Chhabra, Managing Director CRIF UAE & Egypt, Mr. Emad Kozman, Country Manager CRIF Egypt The partnership underscores Suez Canal Bank's efforts to integrate ESG practices into its operations and empower clients—particularly small and medium enterprises (SMEs)—to assess and enhance their sustainability efforts. Developed by CRIF, a global leader in digital solutions and business information, Synesgy offers a comprehensive suite of tools to evaluate ESG performance and make responsible business decisions Synesgy facilitates the integration of sustainability standards into daily operations by offering key performance indicators and advanced tools for assessing ESG compliance. These features help businesses manage risks, meet regulatory expectations, and align with both local and international sustainability standards. Additionally, the platform enhances companies' reputations, making them more attractive to investors and customers focused on sustainability Suez Canal Bank is ensuring the platform's seamless adoption. To this end, the bank organized a workshop attended by senior executives, department heads, and relationship managers to provide the necessary training and support for clients This initiative reflects Suez Canal Bank's vision to deliver advanced banking services that contribute to sustainable development goals. By empowering businesses to address environmental challenges, the bank is also fostering new opportunities for sustainable economic growth in Egypt Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, emphasized: 'This partnership reflects the bank's dedication to integrating ESG into its banking activities and providing clients with tools to make responsible decisions that enhance their business sustainability Marco Preti, CEO CRIBIS D&B and General Manager CRIF Group, highlighted the importance of this collaboration: 'We are pleased to partner with Suez Canal Bank to introduce the Synesgy platform in Egypt. This is a significant step in supporting businesses to strengthen their sustainability efforts through advanced technology and data, helping them evaluate and improve their ESG performance Google News تابعونا على تابعونا على تطبيق نبض
Zawya
30-06-2025
- Business
- Zawya
USD exchange rates below EGP 50-mark at Egyptian banks on Sunday
Arab Finance: The exchange rate of the US dollar to the Egyptian pound retreated on Sunday. At the Suez Canal Bank, the dollar recorded EGP 49.65 for buying and EGP 50.75 for selling by 3:53 pm. The US dollar traded at EGP 49.64 for buying and EGP 49.74 for selling at the Commercial International Bank Egypt (CIB), Banque Misr, and the National Bank of Egypt (NBE). The exchange rate hit EGP 49.63 for buying and EGP 49.73 for selling at Al Baraka Bank Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
