HD Bank tops Egyptian banks in retail deposit growth rate during 2022

Housing and Development Bank was able to achieve a strong performance, topping First Bank list of the fastest growing banks in retail deposits during the past year, with a growth rate of 21.36%, after the bank’s total retail deposit portfolio increased to EGP27.2 bn by the end of 2022, compared to EGP22.4 bn, by the end of 2021, an increase of EGP4.79 bn.

This increase led to the stability of the bank's market share during 2022 at 0.53% of the total household sector deposits in Egypt.

The bank's total deposits increased by 42.28% during the past year, to record EGP89.49 bn at the end of 2022, compared to EGP62.9 bn at the end of 2021, an increase of EGP26.59 bn.

Thanks to this increase, the bank succeeded in increasing its share in the deposit market to 1.04% of the total banking sector deposits by the end of 2022, compared to 0.97% by the end of 2021.

It is worth noting that the bank also achieved remarkable growth in its corporate deposit portfolio, as its portfolio jumped by 53.88%, to record EGP62.3 bn at the end of 2022, compared to EGP40.5 bn at the end of December 2021, an increase of EGP21.8 bn, occupying second place on First Bank list of the fastest growing listed banks in corporate deposits.

In general, HD bank achieved an out standing performance during the past year, as its asset portfolio jumped by 35.86%, reaching EGP103.6 bn at the end of last year, compared to EGP76.3 bn at the end of 2021, an increase of EGP27.35 bn, leading the listed banks in terms of growth, and third place at the level of Egyptian banks.

Its total loan portfolio jumped by 41.68%, to reach EGP38.16 bn by the end of 2022, compared to EGP26.94 bn by the end of 2021, an increase of EGP11.23 bn, occupying the second place among the listed banks in terms of loan growth, and second place at the level of Egyptian banks.

Net profit of increased by 23.31%, to reach EGP2.26 bn in 2022, compared to EGP1.83 bn in 2021, an increase of EGP426.61 mn.