Cairo – Mubasher: Suez Canal Bank’s net profit surged to EGP 611.24 million in the first quarter (Q1) of 2024 from EGP 250.86 million in the same quarter a year earlier.
Net interest income jumped to EGP 1.09 billion in Q1-24 from EGP 707.24 million in Q1-23, according to financial statements.
The earnings per share (EPS) hit EGP 1.08 in the three-month period that ended on 31 March 2024, up from EGP 0.44 in the corresponding period of 2023.
Total assets leapt to EGP 136.01 billion in January-March 2024 from EGP 102.93 billion in Q1-23.
Customer deposits grew to EGP 93.62 billion in Q1-24 from EGP 73.64 billion the same quarter a year earlier.
In 2023, Suez Canal Bank reported EGP 2.29 billion in net profit, a surge from EGP 1.04 billion.
