Suez Canal Bank is a prominent financial institution in Egypt, providing numerous financial services to both individuals and institutions. Established in 1978, the bank has a long track record of offering and performing financial services to its clients. It is headquartered in Cairo and has 50 branches across Egypt.
Furthermore, the bank is involved in all economic activities, utilizing its expertise to provide customers with innovative and customized solutions. It offers retail, corporate, and investment banking services as well as Islamic banking products. Additionally, the bank is a primary dealer in treasury bills and government bonds and offers e-banking services to its customers.
Moreover, Suez Canal Bank is committed to providing its customers with the highest level of service and support. Its experienced team of professionals is devoted to assisting clients to achieve their financial goals and objectives. With its extensive network of branches and its commitment to innovation and excellence, Suez Canal Bank is well-positioned to accommodate the evolving needs of its customers in Egypt and beyond.
Corporate Profile
Management and Leadership
A group of seasoned experts that are committed to giving their clients the best financial goods and services run Suez Canal Bank in Egypt. The bank’s managing director and chairperson oversee its operations and ensure that it operates in compliance with the regulations set by the Central Bank of Egypt.
Branch Network
Suez Canal Bank has a vast network of branches across Egypt. Notably, with its headquarters in Cairo, the bank boasts over 51 branches throughout the country, thereby providing its customers with reliable personal, corporate, and Islamic banking services. Moreover, the bank has correspondents worldwide and a representative office in Tripoli, Libya.
Additionally, the bank’s capital is aligned with the provisions of investment law no. 43 of 1974 and its subsequent amendments. Furthermore, Suez Canal Bank is actively involved in all economic activities, utilizing its extensive experience and knowledge in the banking sector.
Since 1978, the bank has been providing customers with the best financial products and services, establishing itself as one of Egypt’s leading local financial institutions. Impressively, it has marketed Islamic banking products since 1983 and is also a primary dealer in treasury bills and government bonds.
In conclusion, Suez Canal Bank, Egypt, is a reliable financial institution that has been providing customers with the best financial products and services for over 40 years. With its extensive network of branches, experienced management team, and steadfast commitment to compliance, the bank is well-positioned to continue offering its customers the best possible banking experience.
Banking Services
Suez Canal Bank offers numerous banking services to meet the diverse needs of its customers. The bank provides services to retail and corporate clients and offers various financial products to cater to their needs. The bank’s services are categorized into the following:
Retail Banking
Suez Canal Bank provides retail banking services to individuals, including savings accounts, current accounts, and personal loans. The bank also offers e-banking services to its retail customers, enabling them to access their accounts and perform transactions online. Customers can use the bank’s e-banking platform to transfer funds, pay bills, and view account statements.
Corporate Banking
Suez Canal Bank provides corporate banking services to businesses, including trade finance, cash management, and corporate lending. The bank also offers a range of treasury services, including foreign exchange and money market products. The bank’s corporate banking services are tailored to meet the specific needs of its clients.
Investment Banking
Suez Canal Bank offers investment banking services to its clients, including mergers and acquisitions, equity and debt underwriting, and financial advisory services. The bank’s investment banking team has a wealth of experience in the local market and can provide customized solutions to meet clients’ needs.
Islamic Banking
Suez Canal Bank offers Islamic banking services to its customers, including Sharia-compliant savings accounts, current accounts, and financing solutions. The bank’s Islamic banking products are designed to meet customers’ needs who prefer to conduct their banking transactions using Islamic principles.
Trade Finance
Suez Canal Bank provides trade finance services to its clients, including letters of credit, guarantees, and documentary collections. The trade financing team at the bank can offer tailored solutions to suit the demands of its clients because they have a wealth of local market experience.
In conclusion, Suez Canal Bank provides several banking services to meet the various needs of its clients. The bank’s services are tailored to meet the specific needs of its retail and corporate clients and include e-banking, investment banking, Islamic banking, and trade finance.
Financial Performance
Annual Profit and Net Income
Suez Canal Bank has been performing well in terms of profitability. According to the bank’s financial statements for the year ended 31 December 2021, the bank’s net income was EGP 2.3bn, a remarkable growth of 121% compared to the previous year. In March 2024, the bank’s net profits soared to EGP 611m, a significant leap in the bank’s net profits.
Financing Portfolio
Suez Canal Bank has a diverse financing portfolio, including bonds and net loans. Moreover, the bank’s financial statements for the year ended 31 December 2021 show that it had due from banks with a maturity of more than three months of EGP 2.05bn. Furthermore, the bank is involved in all aspects of economic activities, utilizing its expertise to provide its clients with a wide range of financing solutions.
Additionally, the bank’s financing portfolio is well-diversified, which helps mitigate risks and ensure stable growth. Specifically, as of December 31, 2021, the bank’s net loans and advances to customers were EGP 32.9bn. The portfolio comprises a mix of retail and corporate loans, thereby helping to balance the bank’s risk profile.
In conclusion, Suez Canal Bank has been performing well in terms of profitability and has a well-diversified financing portfolio that includes bonds and net loans. The bank’s expertise in providing a wide range of financing solutions to its clients is clearly reflected in its financial performance.
Strategic Partnerships and Expansion
Domestic and International Cooperation
Suez Canal Bank has established itself as a leading financial institution in Egypt by providing retail, corporate, and investment banking services. In 2023, the bank signed a cooperation protocol with the Chinese company TEDA to support investment capabilities in the Suez Canal Economic Zone. This partnership has enabled the bank to expand its reach and offer more diverse services to its customers.
Moreover, Suez Canal Bank has entered into a five-year partnership agreement with Allianz Egypt to expand the company’s bancassurance services. This agreement covers life insurance services, which is expected to maximize the company’s competence in meeting its customers’ demands.
Expansion into Libya
Suez Canal Bank has been exploring opportunities to expand its operations in Libya. The bank has been in talks with the Libyan Foreign Bank to establish a joint venture providing financial services in the country. This partnership would allow the bank to leverage its expertise in the banking sector and expand its regional reach.
In addition, the Suez Canal Bank has been in discussions with the Libyan Pension Fund to explore opportunities for cooperation in the financial sector. This partnership would enable the bank to expand its services to a wider customer base and provide more diverse financial solutions.
Conclusion
Suez Canal Bank has successfully established strategic partnerships both domestically and internationally. The bank’s partnerships with TEDA and Allianz Egypt have enabled it to expand its reach and offer more diverse services to its customers. Furthermore, the bank’s efforts to expand into Libya demonstrate its commitment to growth and ability to identify and capitalize on new opportunities.
Customer Service and Accessibility
Suez Canal Bank is committed to providing excellent customer service and accessibility to its clients. The bank has established several channels through which clients can access its services, including visiting the nearest branch, contacting the call center, or using online banking services.
Locating the Nearest Branch
Clients can easily locate the nearest Suez Canal Bank branch by visiting the bank’s website or using the mobile banking app. The bank has a huge network of branches across Egypt, making it easy for clients to access banking services wherever they are located. The bank’s branches are equipped with modern facilities and staffed with knowledgeable and friendly personnel who are always ready to assist clients with their banking needs.
Call Center Excellence
Suez Canal Bank has a 24/7 call center that clients can use to inquire about the bank’s products and services or report lost or stolen cards. Furthermore, clients can contact the call center from Egypt or abroad by dialing 19093 or (+202) 19093 if they are outside Egypt. Moreover, the bank’s customer care agents are well-trained and always ready to assist clients with queries. Consequently, clients are advised to keep their ID and account/card number when contacting the call center to expedite the resolution of their issues.
Additionally, the bank is committed to improving accessibility for people with disabilities. For instance, the bank has added lights and instructions to over 25% of its ATMs in compliance with the Central Bank of Egypt’s requirements, thereby making them more user-friendly for individuals with special needs. In addition, the bank has taught over 100 customer care representatives sign language so they can read the terms and conditions of banking products and services to clients with impairments.
In conclusion, Suez Canal Bank is dedicated to providing excellent customer service and accessibility to its clients. The bank’s commitment to improving accessibility for people with disabilities is a testament to its dedication to financial inclusion and making banking services accessible to all.
Frequently Asked Questions
How can I access online banking for Suez Canal Bank?
Suez Canal Bank offers its customers online banking services, allowing them to access their accounts and perform various transactions from the comfort of their own homes. Also, to access online banking, customers can visit the Suez Canal Bank website and click the “e-Banking” tab. From there, they can register for online banking and follow the instructions.
Where can I find Suez Canal Bank branches in Egypt?
Suez Canal Bank has a vast network of branches throughout Egypt, making it easy for customers to access their services. Customers can visit the Suez Canal Bank website and click on the “Branches & ATMs” tab to find a list of all available branches and ATMs. They can also use the bank’s mobile app to locate the nearest branch.
Is there a mobile app available for Suez Canal Bank customers?
Yes, Suez Canal Bank offers a mobile app for its customers, which can be downloaded from the App Store or Google Play. The app enables customers to access their accounts, perform transactions, and locate the nearest branch or ATM.
How do I contact the Suez Canal Bank call center?
Customers can contact the Suez Canal Bank call center by dialing 19093. The call center is available round-the-clock and can assist customers with questions or concerns.
What are the benefits of Suez Canal Bank’s credit card services?
Suez Canal Bank offers its customers a range of credit card services, including cashback rewards, travel benefits, and discounts at various merchants. Customers can choose from multiple credit card options to find one that suits their needs.
How can I find the SWIFT code for Suez Canal Bank?
The SWIFT code for Suez Canal Bank is SUCAEGCXXXX. Customers can also find the SWIFT code for specific branches by visiting the Suez Canal Bank website and clicking the “Branches & ATMs” tab.
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