HD Bank grows by 10.61% On First bank’s Composite Growth Index during Q4-2022

HD Bank recorded a composite growth rate of 10.61% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio During Q4- 2022, according to its latest separate financial statements.

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 Q4- 2022.

The bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profits that recorded a growth rate of 27.27% to record EGP 504mn during Q4- 2022, compared to EGP 396 mn at the same period of 2021.

The bank’sTotal loans and facilities to customers came in second place as it increased to EGP38.163bn by end of 2022, compared to EGP 34.282 bn by the end of September 2021, achieving a growth rate of 11.32%, and an increase of EGP 3.881 bn.

Furthermore, The bank’s asset portfolio recorded a growth rate of 1.27% to record EGP 103.632bn at the end of December 2022, compared to EGP 102.335 bn at the end of September 2021 with an increase of EGP 1.297bn.

The bank's deposit portfolio jumped by 2.57% During Q4-22 to record EGP 89.485bn at the end of 2022, compared to EGP 87.245 bn at the end of September 2021 with an increase of EGP 2.240 bn.