Housing Bank is a frontrunner; its individual deposits portfolio grows by 23% during 2022

The Housing and Development Bank continued its strong performance through 2022, occupying the first place on First Bank’s latest rating lists, within the framework of the ambitious strategy under the leadership of Hassan Ghanem, Chairman of the Bank’s Board of Directors.

The bank topped First Bank list of the fastest growing banks in terms of individual deposits during the first 9 months of 2022, after achieving a growth rate of 23.05%, reached 27.6 billion pounds by the end of September 2022, compared to 22.4 billion by the end of December 2021.

This was reflected positively on its market share, as its individual deposits share increased to acquire 0.57% of total retail deposits of the banking sector at the end of September 2022, compared to 0.53% at the end of 2021. Such remarkable increase resulted in a remarkable growth in the bank’s total deposit portfolio, as it increased by 38.7%, to record 87.2 billion by the end of September 2022, compared to 62.9 billion pounds by the end of 2021.

In addition, thanks to the rapid growth of the deposit portfolio, the bank’s market share increased to 1.11% of the total deposits of the banking sector at the end of September 2022, compared to 0.97% at the end of 2021, adding 0.14% to its total share during the first 9 months of last year.

It is worth noting that the individual deposits portfolio increased since Hassan Ghanem assumed the responsibilities of his current position by 68.98% approximately, approaching EGP 28 billion at the end of the third quarter of 2022, compared to EGP16.335 billion at the end of 2018, an increase of 11.268 billion pounds.

However, HDB’s total deposit portfolio of the bank rose to exceed EGP 87 billion at the end of the third quarter of 2022, compared to EGP 34.12 billion at the end of 2018, achieving a growth rate of 155.68%, and an increase of EGP 53.122 billion