Suez Canal Bank
From Wikipedia, the free encyclopedia
 | |
Native name | بنك قناة السويس |
|---|---|
| EGX: CANA.CA | |
| Industry | Financial services |
| Founded | 1978 in Ismailia, Egypt |
| Headquarters | , |
Number of locations | 49 branches |
Area served | Egypt, Libya |
Key people | Tarek Kandil (Executive director) |
| Services | |
| £E195 million (2015) | |
| Total assets | £E23 billion (2015[1]) |
| Total equity | £E2 billion |
| Website | scbank |
Suez Canal Bank is an Egyptian bank headquartered in Cairo.[2][3] Founded in 1978, the bank provides financial services to individual and corporate clients in Egypt and at its branch in Tripoli, Libya.[4][5]
The bank provides its services and financial products to retail and corporate clients through over 40 branches in Egypt and Libya. Offerings include investment banking, trade finance, credit cards, financial services, and Islamic banking.[6] As of 2015[update], the bank’s capital was £E 2 billion, and its registered profit was £E 195 million. Suez Canal Bank is one of the oldest banks in the Egyptian private sector.[7][8]
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.[6]
The bank was established as a joint-stock company in 1978 according to Law No. 43 (Infitah) in 1974.