Suez Canal Bank has announced the opening of its new branch in Sohag, as part of its ambitious geographic expansion strategy. The move aligns with Egypt Vision 2030 and the Central Bank of Egypt's policies to promote sustainable development and financial inclusion nationwide.
The inauguration ceremony was attended by several senior executives, including Tarek Salah, Head of Distribution Channels; Nour El-Zeiny, Head of Financial Inclusion, Corporate Communications and Corporate Social Responsibility; Adel Abdel Latif, Head of Branch Network; and Ayman Barakat, Head of Commercial Distribution, alongside branch leaders and representatives.
The new branch has been designed in line with the bank’s updated corporate identity, reflecting its focus on innovation and delivering a more advanced and flexible banking experience. This move underscores the bank’s commitment to providing modern banking services while supporting development in economically promising governorates.
Sohag is regarded as one of Upper Egypt’s key economic hubs, having witnessed significant progress in infrastructure development, industrial zones, and expanding commercial and investment activity. The new branch therefore represents an extension of the bank’s efforts to support the local business community and meet the needs of both retail and corporate clients, strengthening its role as a development partner across Egypt’s governorates.
The Sohag branch offers a comprehensive range of retail banking services, including current and savings accounts, certificates of deposit, debit and credit cards, personal finance, and car loans. It also provides tailored financing programmes for small and medium-sized enterprises, targeting entrepreneurs and young business owners, particularly in the industrial, agricultural, and service sectors that characterise the governorate’s economy.
On the corporate side, the branch delivers integrated financing solutions, documentary credits, letters of guarantee, and financial advisory services to support investors and factories operating in Sohag’s industrial zones. Customers also have access to digital banking services, including internet banking, mobile banking applications, and the SCB E-Wallet, ensuring secure, seamless and efficient transactions.
Akef El Maghraby, Chief Executive Officer and Managing Director of Suez Canal Bank, said the opening of the Sohag branch reflects the bank’s confidence in the governorate’s strong economic potential and its commitment to playing an active role in driving sustainable growth. He added that the new branch goes beyond providing traditional banking services, serving instead as a development partner by creating employment opportunities, broadening financial inclusion, and reaching new customer segments. The bank also aims to support local development plans through financing productive and investment projects, with particular emphasis on environmentally sustainable initiatives.
Shehab Zeidan, Deputy Chief Executive Officer and Managing Director, described the Sohag branch as another milestone in the bank’s carefully structured expansion strategy, targeting regions with high growth potential. Zeidan added that the bank continues to enhance its portfolio of competitive products and services while pursuing an ambitious digital transformation agenda, expanding advanced digital solutions for both retail and corporate clients in line with the latest technological developments.
The Sohag branch forms part of a broader expansion plan that recently included new openings at the Suez Canal Authority’s Guidance Building and in Rehab, New Cairo. With this addition, the bank’s total branch network has reached 56 branches nationwide, supporting continued growth in its customer base through a comprehensive suite of tailored banking products and services.