HD Bank's loans to Industrial corporates jump by 91.3% in 2024, exceeding EGP 7 bn
Housing and Development Bank was able to significantly boost its loans for industrial corporates over the past year, rising to 7.056 billion pounds by the end of 2024, compared to 3.689 billion pounds by the end of 2023, to grow by 91.27% and an increase of 3.367 billion pounds.
This growth was driven by a rise in current account balances for industrial corporates, which jumped by 161.48% over the past year, to 3.530 billion pounds by the end of 2024, compared with 1.350 billion pounds by the end of 2023, an increase of 2.180 billion pounds.
Total direct loans to industrial corporates also contributed to this growth, after registering a growth rate of 13.53% and an increase of 282 million pounds over the past year, reaching 2.366 billion pounds by the end of 2024, compared to 2.084 billion pounds by the end of 2023, earning 33.53% of the Bank's total loans to industrial corporates by the end of 2024.
The Bank also injected more co-financing for industrial enterprises, jumping the portfolio at a growth rate of 354.79% over the past year, recording 1.160 billion pounds by the end of 2024, compared to 255.1 million pounds by the end of 2023, an increase of 904.9 million pounds.
Syndicated loans for industrial activity received a share of 16.44% of the Bank's total loans for industrial activity, by the end of 2024, against a relative weight of 6.91% of the Bank's total industrial financing by the end of 2023.
The relative weight of industrial loans increased to 24.88% of the bank's total corporate loans by the end of 2024, compared to a relative weight of 17.93% by the end of 2023.
Total corporate loans at HD Bank rose by 37.88%, marking an increase of 7.792 billion pounds over the past year, reaching 28.361 billion pounds by the end of 2024, compared with 20.569 billion pounds by the end of 2023.
The Bank's total customer loans increased to 55.973 billion pounds by the end of 2024, compared to 45.485 billion pounds by the end of 2023, to grow by 23.06%, and to achieve an increase of 10.488 billion pounds over the past year.
