Suez Canal Bank’s net profits surge 187.85% YoY in H1
Updated 8/14/2024 9:44:00 AM
Arab Finance: Suez Canal Bank (CANA) posted a 187.85% year-on-year (YoY) increase in net profits after tax for the first half (H1) of 2024, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 14th.
The bank recorded a net profit of EGP 1.807 billion in H1 2024, compared to EGP 628.042 million in H1 2023.
Net interest income rose to EGP 2.544 billion during the January-June period of this year, compared to EGP 1.481 billion in the first six months of 2023.
Suez Canal Bank is an Egypt-based company engaged in providing corporate, retail, and investment banking products and services.
The bank's range of banking products includes direct and indirect finance, loans, social funds, deposits, savings, credit cards, issuance of letters of guarantee, and other Islamic banking services, in addition to technical, economic, financial, administrative, and consultative services.
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