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27. Suez Canal Bank
Sector: Banking and financial services
CEO and Managing Director: Akef El Maghraby
Market Value: $135 million
Sales: $267 million
Profits: $48 million
Assets: $2.1 billion
Established in 1978, Suez Canal Bank provides retail, corporate, and investment banking services through 50 branches across Egypt. In 2023, the bank signed a cooperation protocol with the Chinese company TEDA to support investment capabilities in the Suez Canal Economic Zone. In January 2024, the bank signed a partnership agreement with Allianz Egypt to expand bancassurance services. The Arab International Bank owned 41.5% of the bank, the Libyan Foreign Bank owned 27.7%, and the Suez Canal Authority (Pension Fund) owned 10% as of March 2024.