HD Bank tops Banks in focusing on Retail loans by the End of September 2024

The Housing and Development Bank tops the First Bank list of banks in focusing on retail loans in the first 9 months of last year, where financing for the retail banking sector accounted for about 50.69% of its total customer loans by the end of September 2024.

The Bank continued to maintain its status, having also topped the "First Bank" list of banks most focused on retail loans by the end of 2023.

The Bank has a relatively large portfolio of retail loans, reaching EGP 27.2 bn by the end of September 2024, compared to EGP 24.9 bn by the end of 2023, a growth of 9.27%, and a total increase of EGP 2.3 bn.

It is worth noting that HD Bank, despite its significant focus on the retail banking sector, does not lose sight of the corporate loans, as it continues to make remarkable progress, as evidenced by the continued growth of its portfolio of corporate loans.

The bank's corporate loan portfolio jumped by 28.77% during the first 9 months of last year, registering EGP 26.5 bn by the end of September 2024, compared to EGP 20.6 bn by the end of 2023.

Overall, the Bank registered strong growth in its main indicators, with net profits jumping by 87.2%, to EGP 8.27 bn in the first 9 months of 2024, compared to EGP 4.4 bn in the same period from 2023, with an increase of EGP 3.851 bn.

The asset portfolio rose by 24.96% during the first 9 months of 2024, reaching EGP156.3 bn by the end of September, compared to EGP 125.1 bn by the end of 2023, with an increase of EGP 31.2 bn.

Customers' deposit portfolio rose by 24.66% in the first 9 months of last year, reaching EGP126.3 bn by the end of September 2024, compared to EGP 101.3 bn by the end of 2023.

The Bank's total customer loans  jumped by EGP 8.2 bn in the first 9 months of 2024, registering EGP 53.7 bn by the end of September 2024, compared to EGP 45.5 bn by the end of 2023, with a growth of 18.09%.