Arab Finance: Suez Canal Bank (CANA) posted a 16.8% year-on-year (YoY) decrease in net profits for the first quarter (Q1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 31st.
The bank recorded a net profit of EGP 96.27 million in Q1 2022, compared to EGP 115.71 million in Q1 2021.
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.