HD Bank's Corporate Finance soars by 56.01% during 2022
Housing and Development Bank was able to achieve remarkable increases in corporate finance during 2022, as its corporate loans portfolio jumped from EGP10.88 bn at the end of 2021, to EGP16.97 bn at the end of last year, achieving an increase of EGP6.09 bn, a growth rate of 56.01%.
Debit current accounts jumped by 70.87%, to reach EGP 8.46 bn at the end of 2022, compared to EGP4.95 bn at the end of 2021, an increase of EGP3.51 bn.
The value of current accounts during 2022 was distributed among the various sectors, in which industrial corporates were at the forefront, as it reached EGP 2.90 bn, while EGP2.45 bn for real estate sector, and EGP 2.13 bn for commercial sector, as for services, it recorded EGP638.98 mn, EGP 142.19 mn for financial corporates, while agricultural activities recorded EGP 38.76 mn, and the remaining value of EGP 150.46 mn was distributed to other activities.
Direct loans also increased by 44.08%, to reach EGP 6.12 bn at the end of 2022, compared to EGP 4.25 mn at the end of 2021, an increase of EGP 1.87 bn.
The value of direct financing during 2022 was distributed among many sectors, in which financial corporates had the largest share, as the bank’s financing reached EGP 3.13 bn, commercial finance reached EGP1.95 bn, EGP 649.45 mn for services, and EGP335.33 mn for industrial corporates, Real estate recorded EGP46.64 mn, agriculture recorded EGP 2.81 mn, while the remaining value of EGP 8.68 mn was distributed to other activities.
The increase in co-financing rose to EGP 2.11 bn by the end of 2022, compared to EGP1.29 bn by the end of 2021, achieving a growth rate of 63.66%, and an increase of EGP821.02 mn. The bank’s syndicated loans were distributed between two sectors only, which are real estate that received EGP1.43 bn, and services received EGP680.36 mn by the end of 2022.
corporate sector contributed 44.46% to the bank’s total finance portfolio, which 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.
