Suez Canal Bank (SCB) reported on Sunday a record net profit of EGP 5.7bn in the first nine months of 2026, equivalent to EGP 5.02 per share, marking a 12.9% increase from EGP 5.05bn in the corresponding period of 2025.
- Deposit growth strengthens funding base
- Customer lending expands 21%
- Profitability and capital adequacy remain strong
- Digital banking expansion supports business customers
- Financing solutions target SMEs and startups
- PAPSS membership strengthens African trade links
- Customer experience and service offering enhanced
- International recognition and sustainability initiatives
- EGM approves capital amendments and 50-year extension
The Bank delivered strong financial performance during the period, with net interest income rising by 42.9% year-on-year to EGP 8.8bn, while net banking income increased by 33.4% to EGP 13.3bn, compared with EGP 9.9bn in the same period last year.
During the third quarter of 2026, the Bank sustained its positive performance, recording net interest income of EGP 3.1bn and net banking income of EGP 4.7bn, representing a 21.3% year-on-year increase from EGP 3.9bn. Net profit reached EGP 2.1bn, up 5.29% year-on-year, while net interest income grew by 35.3%.
Deposit growth strengthens funding base
The Bank’s financial performance was underpinned by solid balance sheet expansion as of September 2026. Customer deposits increased by 18.7%, from EGP 209bn at year-end 2025 to EGP 248.1bn in September 2026.
Deposit growth was primarily driven by local currency funding, which expanded by 14.7% to EGP 165.4bn, and foreign currency funding, which increased by 27.4%. Consequently, the share of foreign currency deposits in total customer deposits rose from 31.0% at year-end 2025 to 33.3% in September 2026.
The Bank also achieved a more diversified deposit mix, supported by strong growth in retail deposits, which increased by 73.1% to EGP 64.6bn, accounting for 26.0% of total customer deposits, compared with 17.9% at year-end 2025. Meanwhile, corporate deposits grew by 6.8% to EGP 183.4bn, representing 74.0% of total deposits.
This performance reflects the Bank’s continued focus on building a diversified and resilient funding base capable of supporting further balance sheet expansion and rising credit demand.
Customer lending expands 21%
On the lending side, Suez Canal Bank continued to expand its financing activities for businesses and individuals, with net customer loans increasing by 21.0% to EGP 148.1bn as of September 2026.
Local currency loans rose by 20.1% to EGP 128.9bn, while foreign currency loans increased by 27.4% to EGP 19.2bn. Growth was primarily driven by the corporate portfolio, which expanded by 20.3% to EGP 134bn, accounting for approximately 90.5% of total customer loans.
Meanwhile, retail lending grew at a faster rate of 27.7% to EGP 14.1bn, representing approximately 9.5% of the total loan portfolio. This reflects the Bank’s continued efforts to develop its retail banking proposition alongside its established corporate franchise.
The loans-to-deposits ratio stood at 59.7%. According to the latest available Central Bank of Egypt (CBE) data for June 2026, the Bank accounted for 1.16% of the banking sector’s loans and 1.40% of its deposits. The balanced expansion across currencies and customer segments reflects the Bank’s focus on meeting credit demand while maintaining a diversified loan portfolio.
Profitability and capital adequacy remain strong
Strong earnings generation, disciplined balance sheet expansion and resilient margins translated into a Return on Average Equity (ROAE) of 33.4% and a Return on Average Assets (ROAA) of 2.6% in 9M 2026.
The Bank maintained comfortable capitalisation levels, with its Capital Adequacy Ratio (CAR) standing at 18.69%. Its Leverage Ratio also strengthened to 7.02%, compared with 6.43% at year-end 2025, while shareholders’ equity increased by 24.9% to EGP 23.2bn.
Commenting on the results, Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said: “The results achieved by Suez Canal Bank reflect our vision of building a more integrated banking model, offering a comprehensive range of banking solutions and services that address our customers’ personal and professional needs and support their ambitions at different stages of growth and development. Alongside the expansion of our digital channels, this approach strengthens our ability to build long-term client relationships and supports the continued growth of the Bank’s business.”
Digital banking expansion supports business customers
In line with this strategy, the Bank continued to develop its digital banking services with the launch of SCB Business, a mobile banking application that enables businesses of all sizes, including large corporates and small and medium-sized enterprises (SMEs), to manage their daily banking transactions easily and securely, anytime and anywhere.
The launch followed the introduction of the Corporate Internet Banking Platform, an integrated digital solution that enables businesses to manage their corporate accounts and access more flexible and efficient banking services across multiple digital channels.
As part of its efforts to support the digitalisation of government payments and simplify procedures, Suez Canal Bank enabled electronic payments for the unified invoice covering services provided to vessels transiting the Suez Canal through the Corporate Payment System (CPS) government payments platform. This makes SCB the first bank in Egypt to offer the service to its shipping and maritime customers.
Financing solutions target SMEs and startups
The Bank also continued to support SMEs by developing integrated banking and financing solutions tailored to their needs at different stages of growth. In this regard, it launched an integrated digital financing journey for small businesses, simplifying procedures and accelerating access to funding, with credit approvals issued within four days for eligible applications.
The Bank also increased the maximum financing amount to EGP 15m and expanded the range of eligible customers to include startups, subject to specific terms and conditions. Additionally, it introduced a dedicated financing programme for medium-sized enterprises, offering facilities of up to EGP 25m to support working capital requirements and business expansion plans.
PAPSS membership strengthens African trade links
Suez Canal Bank’s support for customers also extends to helping businesses explore opportunities across African markets. The Bank signed a membership agreement with the Pan-African Payment and Settlement System (PAPSS), operated by the African Export-Import Bank (Afreximbank), becoming the first Egyptian commercial bank to join the system following approval from the CBE.
The move supports intra-African trade and creates additional opportunities for Egyptian businesses by facilitating cross-border trade transactions.
Customer experience and service offering enhanced
As customers’ needs continue to evolve across their business, personal and investment activities, Suez Canal Bank has continued to expand its range of accounts, savings products, investment services and financing solutions, offering flexible repayment terms and competitive interest rates.
The Bank also enhanced the benefits available to cardholders through a range of exclusive offers and privileges, providing customers with more options tailored to their different needs.
As part of its commitment to improving the customer experience, the Bank introduced several measures to enhance service quality across its branches, customer service centres and digital channels. It also continued upgrading its mobile banking application by introducing new services and features, alongside expanding its non-banking services to provide customers with a more comprehensive banking experience.
These efforts were recognised through the Bank receiving the “Best Global Banking Offering for HNW Clients – Egypt 2026” award from The Digital Banker, in recognition of its integrated banking and investment solutions and services for customers across different segments.
International recognition and sustainability initiatives
In parallel, the Bank continued its efforts to improve the workplace environment and strengthen its sustainability practices, obtaining ISO 45001:2018 Occupational Health and Safety Management System certification, issued by EUROCERT, an internationally recognised Greek certification company.
The certification reflects the Bank’s commitment to adopting international standards and best practices, providing employees with a safe and healthy working environment, enhancing operational efficiency and business sustainability, and supporting the delivery of more efficient, high-quality services to customers.
The Bank’s achievements were further recognised through several international awards and rankings, most notably its inclusion in Forbes’ World’s Top Performing Banks 2026 list, which features 500 banks across 89 countries. The recognition reflects the Bank’s continued progress and growing regional and international standing.
EGM approves capital amendments and 50-year extension
Suez Canal Bank’s Extraordinary General Assembly (EGM), held on November 11, 2026, under the chairmanship of Amr Tantawy, Chairperson of the Board of Directors, and attended by Akef El Maghraby, CEO and Managing Director, Board members and shareholders, approved amendments to Articles 5 and 6 of the Bank’s Articles of Association.
The amendments include extending the Bank’s term by an additional 50 years, starting on March 12, 2028, following the expiry of its previous term as recorded in the Bank’s commercial register. They also provide for increasing the authorised capital from EGP 15bn to EGP 25bn, while maintaining the issued and fully paid-up capital at EGP 15bn, subject to CBE approval.
Accordingly, effective November 12, 2026, the Bank distributed 500 million bonus shares at a ratio of 0.5 bonus shares for each existing share held before the capital increase, bringing the total number of shares to 1.5 billion.
