Suez Canal Bank is an Egyptian bank headquartered in Cairo. Founded in 1978, 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 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. , the bankâÂÂs capital was ãE 2 billion, and its registered profit was ãE 195 million. Suez Canal Bank is one of the oldest banks in the Egyptian private sector.
The Suez Canal Bank was founded in 1978 in Ismailia, a city in eastern Egypt, with authorized capital of ãE 10 million and paid-in capital of ãE 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 ãE500 million of authorized and ãE100 million of paid-in capital. The first foreign branch was opened in Tripoli in 2002. In 2007, capital was raised once more, to ãE2 billion authorized and ãE1 billion paid-in.
The bank was established as a joint-stock company in 1978 according to Law No. 43 (Infitah) in 1974.