HD Bank Tops Listed Banks in Return on Shareholders' Equity in Q1-2023

HD Bank has managed to top the list of the most efficient listed banks in terms of achieving Return on shareholders' Equity, with Return rate on Average Equity of 12.64% during the first quarter of 2023. This marks an improvement from its fifth position on the same list in 2022.

This performance reflects the bank's strong ability to invest its shareholders ‘Equity and achieve record levels of profits.

The significant jump in HD Bank net profits played a fundamental role in its ranking on this list, as it surged to EGP1.32 bn during the first 3 months of 2023, compared to EGP640.29 mn during the same period in 2022, representing a growth rate of 106.94% and an increase of EGP684.69 mn.

HD Bank has been achieving strong performance since Hassan Ghanem assumed the executive leadership in late 2019, as evidenced by total assets' growth rate of 125.96%, reaching EGP116.28 bn by the end of the first quarter of 2023, compared to EGP51.46 bn by the end of 2019, with an increase of EGP 64.82 bn.

Deposits portfolio also increased by 133.47%, reaching EGP96.39 bn by the end of the first quarter of 2023, compared to EGP41.29 bn by the end of 2019, with an increase of EGP55.11 bn.

Additionally, the bank's total customer loans also grew by 98.28%, reaching EGP39.12 bn by the end of last March, compared to EGP19.73 bn by the end of 2019, with an increase of EGP19.39 bn.