HD Bank's Significant evolution in its indicators during Q1-2023

HD Bank has achieved noticeable progress in its performance in recent years, supported by its ambitious strategy, which has clearly manifested in the significant expansion of the bank's operations, increased financing for customers, whether individuals or institutions, and increased depositor confidence, reflected in the significant increases in its deposit portfolio.

The bank continues to demonstrate outstanding performance in the Egyptian banking market, under the leadership of Hassan Ghanem, CEO and Managing Director of the bank.

HD Bank prepares to announce its first-quarter 2023 results, First Bank highlights its investment trends during the past year and how they have significantly impacted its key indicators and profits.

Analyzing the bank's investment trends during the first quarter of 2023, we found that the bank has reduced its focus on lending, as reflected in the decrease in the loan portfolio's share of total bank assets to 30.89% by the end of March, compared to 33.98% at the end of 2022.

The bank has also reduced its focus on financial investments, as reflected in the decrease in the proportion of financial investments to total assets to 26.22% by the end of March 2023, compared to 28.61% at the end of 2022.

Cash and balances held by banks represented the bank's third focus, accounting for 23.15% of the bank's total assets by the end of the first quarter of 2023, compared to 18.36% at the end of 2022, indicating a clear increase in the bank's cash liquidity support.

HD Bank has achieved a strong performance in its key indicators this year, with net profits jumping to EGP1.32 bn during the first 3 months of 2023, compared to EGP 640.29 mn in the same period of 2022, achieving a growth rate of 106.94% and an increase of EGP684.69 mn.

Customer deposit portfolio also increased by 7.72% to reach EGP96.39 bn by the end of March 2023, compared to EGP89.49 bn at the end of 2022.

Total loans to bank customers increased from EGP38.16 bn at the end of 2022 to EGP39.12 bn by the end of the first quarter of 2023, with a growth rate of 2.51% and an increase of EGP957.48 mn.

Asset portfolio rose to EGP116.28 bn by the end of the first quarter of 2023, compared to EGP103.63 bn at the end of 2022, achieving a growth rate of 12.20% and an increase of EGP12.65 bn.

Total financial investments increased from EGP29.64 bn at the end of 2022 to EGP30.49 bn by the end of March 2023, with a growth rate of 2.85% and an increase of EGP843.55 mn.