Suez Canal Bank’s profits soar 72% YoY in 2022

Suez Canal Bank’s profits soar 72% YoY in 2022

Suez Canal Bank recorded a 72% year-on-year (YoY) surge in net profit after tax during 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on February 28th.

Net profits stood at EGP 1.04 billion in 2022, compared to EGP 604.675 million in 2021.

The bank’s net interest income rose during the past year to EGP 1.89 billion, compared to EGP 1.52 billion in 2021.

The distribution for 2022 in the form of bonus shares amounted to 0.1944444 shares for each share, provided that fractions are calculated in favor of small shareholders.

Suez Canal Bank is an Egypt-based company engaged in providing corporate, retail, and investment banking products and services.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).