Suez Canal Bank

Suez Canal Bank

Native name	بنك قناة السويس
Traded as	EGX: CANA.CA
Industry	Financial services
Founded	1978 (1978) in Ismailia, Egypt
Headquarters	Cairo , Egypt
Number of locations	49 branches
Area served	Egypt, Libya
Key people	Tarek Kandil (Executive director)
Services	investment banking, trade finance, credit cards, financial services
Net income	£E195 million (2015)
Total assets	£E23 billion (2015)
Total equity	£E2 billion
Website	scbank.com.eg

Suez Canal Bank (Arabic: بنك قناة السويس) is an Egyptian bank headquartered in Cairo. The bank provides financial services to individual and corporate clients in Egypt and at its branch in Tripoli, Libya.

The bank provides its services and financial products to individual and corporate clients through over 40 branches in Egypt and Tripoli. Offerings include investment banking, trade finance, credit cards, financial services, and Islamic banking.

As of 2015, The bank’s capital was £E 2 billion, and it registered a profit was £E 195 million. It is one of the oldest banks in the Egyptian private sector.

History

The Suez Canal Bank was founded in 1978 in Ismailia, a city in eastern Egypt, with authorized capital of £E 10 million and paid-in capital of £E 2.5 million. In 1982, the company offered its initial public offering on the Egyptian Exchange. The company opened an Islamic banking branch in Dokki in 1983. In 1998, the company was upgraded to £E500 million of authorized and £E100 million of paid-in capital. The first foreign branch was opened in Tripoli in 2002. In 2007, capital was raised once more, to £E2 billion authorized and £E1 billion paid-in.

The bank was established as a joint-stock company in 1978 according to Law No. 43 (Infitah) in 1974.

Shareholders

• Arab International Bank (41.48%)
• Libyan Foreign Bank (27.21%)
• Suez Canal Authority Employee Pension Fund (10.11%)
• Arab Financial Investments Company (2.50%)
• Open circulation on the Egyptian Exchange (18.20%)

See also

• List of banks in Egypt