HD Banks growth growing during 2022 recording a composite growth rate of35.78%This rate was measured through a

Analysis

HD Bank grows by 35.78% during 2022 On First bank’s Composite Growth Index

3/7/2023 9:32:00 AM

HD Bank’s growth growing during 2022 recording a composite growth rate of35.78%

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during 2022.

HD Bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), deposit portfolio that has seen a record growth rate of 42.28%, reached EGP89.49bn compared to EGP62.9bn at the end of 2021, an increase of EGP26.59bn.

The bank’s total loan portfolio jumped to EGP38.16 bn by the end of 2022, compared to EGP 26.94 bn by the end of 2021, achieving a growth rate of 41.68%, and an increase of EGP11.23 bn.

The Bank's assets portfolio increased from EGP76.28 bn at the end of 2021 to EGP 103.63 bn at the end of 2022, achieving a growth rate of 35.86%, and an increase of EGP27.35 bn.

The bank's net profits of jumped by 23.31%, to reach EGP2.26 bn in 2022, compared to EGP1.83 bn in 2021, an increase of EGP 426.61 mn.