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Suez Canal Bank logs EGP 601M profit

Suez Canal Bank logs EGP 601M profit

ArabFinance: Suez Canal Bank (CANA) posted an 11% Year on Year increase in its profit in 2020, according to the bank’s statement to the Egyptian Exchange on February 22nd.

The bank achieved EGP 601.66 million in profit in 2020, compared to EGP 542.2 million in 2019.

The bank’s yield rose to EGP 1.55 billion by December 31st 2020, compared to EGP 1.24 billion in the corresponding period a year ago.

During the first nine months of 2020, the listed bank logged a net profit of EGP 355.98 million, compared to EGP 364.41 million in the same period of 2019.  

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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