Cairo – Mubasher: The consolidated financial statements of Suez Canal Bank reported an 11% year-on-year (YoY) decline in its net profits during the first quarter of 2020.

The bank’s net profits fell to EGP 114.35 million in the January-March period, compared to EGP 128.56 million in the corresponding period a year earlier, according to a bourse disclosure on Thursday.

Meanwhile, net income from interest, fees, and commissions increased to EGP 422.21 million in the three-month period ended on 31 March, compared to EGP 370 million in the prior-year period.

It is noteworthy to mention that in 2019, the bank’s net profits grew to EGP 542.2 million from EGP 420.19 million in 2018.