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Suez Canal Bank Posts Net Profit of EGP 3.63 billion for the First Half of 2026

Suez Canal Bank Posts Net Profit of EGP 3.63 billion for the First Half of 2026

CAIRO — Suez Canal Bank (Ticker: CANA) today reported first-half 2026 net profit of EGP 3.63 billion, or EGP 3.19 per share, up by 17.7% from first-half 2025.

Suez Canal Bank continued to deliver strong financial performance against a macroeconomic backdrop characterized by easing inflation and a cumulative 500 basis points (bps) reduction in domestic policy rates since June 2025. For 1H2026, net interest income reached EGP 5.7 billion, up 47.4% year-on-year, while net profit increased by 17.7% to EGP 3.6 billion. In 2Q2026, the Bank recorded net interest income of EGP 3.1 billion and net profit of EGP 1.99 billion, representing year-on-year growth of 41.8% and 12.3%, respectively.

The Bank’s financial performance was underpinned by solid balance sheet expansion during the first half of the year. Customer deposits increased by 14.3% from EGP 209.0 billion at year-end 2025 to EGP 238.9 billion as of June 2026. Deposit growth was primarily driven by local currency funding, which expanded by 19.3% to EGP 171.9 billion, increasing its contribution to total customer deposits to 72% from 69% at year-end 2025.

The Bank also achieved a more diversified deposit mix, supported by strong momentum in retail deposits, which increased by 61.5% to EGP 60.3 billion and accounted for 25.2% of total customer deposits, compared with 17.9% at year-end 2025. Meanwhile, corporate deposits increased by 4.0% to EGP 178.7 billion, representing 74.8% of total deposits. This growth reflects the Bank’s continued focus on building a diversified and resilient funding base capable of supporting further balance sheet expansion and growing credit demand.

On the lending side, Suez Canal Bank continued to expand its role in financing businesses and individuals, with net customer loans increasing by 10.8% to EGP 135.6 billion as of June 2026. Local currency loans increased by 11.1% to EGP 119.2 billion, while foreign currency loans grew by 8.9% to EGP 16.4 billion. Growth was primarily driven by the corporate portfolio, which expanded by 10.1% to EGP 122.8 billion and continued to account for approximately 91% of total customer loans. Meanwhile, retail lending grew at a faster rate of 17% to EGP 13.3 billion, contributing approximately 10% of the total loan portfolio and reflecting the Bank’s continued development of its retail banking proposition alongside its established corporate franchise. The balanced expansion across currencies and customer segments reflects the Bank’s continued focus on supporting credit demand while maintaining a diversified loan portfolio.

Strong earnings generation, disciplined balance sheet expansion, and resilient margins translated into a Return on Average Equity (ROAE) of 33.42% and a Return on Average Assets (ROAA) of 2.52% in June 2026. This profitability was achieved while maintaining comfortable capitalization levels, with the Capital Adequacy Ratio (CAR) standing at 18.02% and the Leverage Ratio strengthening to 6.57% from 6.43% at year-end 2025. The Bank also completed an increase in paid-up capital to EGP 10.0 billion from EGP 6.5 billion, while shareholders’ equity increased by 14.3% to EGP 23.2 billion.

Key Financial Highlights
Income Statement (EGP Bn) 1H2025 1H2026 YoY Change
Net Profit EGP 3.08 Bn EGP 3.63 Bn 17.7%
Net Interest Income EGP 3.87 Bn EGP 5.70 Bn 47.4%
Net Banking Income EGP 6.05 Bn EGP 8.54 Bn 41.1%
Earnings per Share EGP 2.71 EGP 3.19 ------
Key Financial Highlights
Balance Sheet Performance (EGP Bn) Dec 2025 June 2026 YTD Change
Total Assets EGP 270.1 Bn EGP 307.0 Bn 13.6%
Corporate Deposits EGP 171.7 Bn EGP 178.7 Bn 4.0%
Net Customer Loans EGP 122.4 Bn EGP 135.6 Bn 10.8%
Shareholders' Equity EGP 20.27 Bn EGP 23.2 Bn 14.3%

In this context, Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said that these results reflect the Bank’s success in implementing its strategy to achieve sustainable and balanced growth by strengthening its various business sectors and developing banking solutions that are more closely connected with customers’ needs, the nature of their businesses, and their aspirations. This is in addition to continuing to invest in digital transformation and geographical expansion, enhancing the Bank’s ability to reach wider customer segments and strengthen its market share in the banking sector.

This performance reflects Suez Canal Bank’s vision of providing integrated banking solutions that are cantered on customers, and meet their diverse needs, starting from personal and day-to-day needs, through savings, investment, and financing, as well as their businesses and companies, this enhances the customer experience and strengthens the Bank’s position as an integrated banking partner that supports sustainable growth.

In this regard, Suez Canal Bank continued during the first half of 2026 to strengthen its position as an integrated banking and investment partner for companies by offering a diverse range of banking and investment solutions and services, including corporate finance, as well as the structuring, arranging, and underwriting of syndicated and structured financing and debt instruments. These solutions played a key role in meeting meet the financing and liquidity needs of companies and major projects, supporting their growth and expansion plans, particularly across key economic and strategic sectors.

This approach also extended to business owners and high-net-worth “Affluent” customers, addressing their financial, investment, and personal needs. In this context, the Bank launched Privé as part of its Affluent & Private Banking services, offering an integrated banking experience that combines privacy, premium banking services, financial and investment solutions tailored to customers’ needs. The Bank also continued to develop a diverse range of products for Private and Affluent customers, including certificates of deposit and savings accounts in various currencies, in addition to a range of financing solutions with flexible and competitive repayment terms.

The Bank also enhanced its wealth management services through its partnership with Art D’Égypte to integrate art investment advisory services into Privé, providing customers with access to financing solutions for acquiring artworks. The Bank also launched its exclusive Voyage travel program for Visa Signature, Visa Infinite, and Visa Infinite Privilege cards holders, offering a more comfortable and seamless travel experience through a range of benefits and services, adding further value to the experience of Elite Star and Privé customers.

Alongside its support for large corporate and business owners, Suez Canal Bank continued to support small and medium-sized enterprises (SMEs) as one of the key drivers of economic growth by connecting them with financing and banking solutions tailored to their needs and different stages of growth. This included launching an integrated digital financing journey for small businesses to help accelerate financing procedures and enhance the customer experience, in addition to offering specialized programs for vital sectors, including financing for doctors and medical centers, as well as flexible and innovative financing solutions to support the needs, growth, and expansion plans of medium-sized companies.

In parallel, the Bank continued to expand its Payroll services, providing business owners and companies with easier and more efficient solutions for managing and transferring salaries. This enables new customer to benefit from integrated solutions that start with salary transfers and bank accounts and extend to financing facilities, cards, savings, and investment solutions, strengthening Suez Canal Bank’s position as an integrated banking partner throughout the different stages of its customers’ lives.

Suez Canal Bank also continued to expand its digital solutions for individuals and companies to meet the personal and professional needs of its various customer segments, providing faster and easier access to different banking services and transactions. This included enhancing its mobile banking application, launching instant transfer services, and launching corporate internet banking, enabling companies to manage their daily transactions easily and flexibly, anytime and anywhere. The Bank also adopts applications powered by artificial intelligence to support operational efficiency and enhance the customer experience.

This expansion supports the Bank’s strategy to promote financial inclusion and extend the reach of its services to wider geographical areas and customer segments. During the first half of 2026, Suez Canal Bank opened Sohag and Zamalek Club branches, bringing its branch network to 57 branches across different governorates and strengthening the integration between the Bank’s geographical presence and its digital channels.

In terms of sustainability and sustainable finance, the Bank established an integrated Environmental and Social Management System (ESMS) in line with international standards, which will contribute to integrating environmental and social considerations into its financing activities. The Bank also published its 2025 Sustainability Report as part of its commitment to disclosure and transparency and developed and published a Supplier Code of Conduct to promote Environmental, Social, and Governance (ESG) principles across its supply chain.

The number of the Bank’s premises certified under the international EDGE Advanced certification has reached seven locations. In sustainable finance, the Bank also completed financing transactions for energy efficiency projects under the GEFF Egypt II program.

The Bank also strengthened its role in corporate social responsibility, implementing around 12 community initiatives and projects during the first half of 2026, with an impact covering healthcare, education, economic empowerment, and social solidarity. These efforts reflect the Bank’s keenness to strengthening its social role in line with the Central Bank of Egypt’s directions and Egypt Vision 2030.

The Bank’s efforts also extended to investing in human capital and developing professional capabilities. In this regard, Suez Canal Bank received the Association of Chartered Certified Accountants (ACCA) “Approved Employer” accreditation, an international recognition that reflects the adoption of best practices in professional development and the promotion of a culture of continuous learning.

The Bank’s efforts during the first half of 2026 were recognized with around 21 awards and recognitions from several local, regional, and international institutions.