HD Bank’s growth accelerates to 32.34% during Q1-2023
First Bank
HD Bank’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 32.34%, compared to 10.63% during Q4-2022.
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 Q1-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 106.94% during Q1-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 2.51% during Q1-2023, and an increase in both asset and deposit portfolios by 12.20% and 7.72%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-22 to achieve a growth rate of 27.36%.
The bank’s Total loan portfolio increased by 11.32% during Q4-22, asset as well as deposit portfolios increased by 1.27% and 2.57%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
Indicators of HD Bank
| # | Indicators | Value At Q1-2023 | Growth rate % | Value At Q4-2022 | growth rate % |
|---|---|---|---|---|---|
| 1 | Net Profits | 1.324 Billion pounds | 106.94 % | 504.114 Million pounds | 27.36 % |
| 2 | Total Assets | 116.277 Billion pounds | 12.2 % | 103.632 Billion pounds | 1.27 % |
| 3 | Total customer deposits | 96.391 Billion pounds | 7.72 % | 89.485 Billion pounds | 2.57 % |
| 4 | Total customer loans | 39.12 Billion pounds | 2.51 % | 38.163 Billion pounds | 11.32 % |
| 5 | Composite Growth Index | 32.34 % | 10.63 % |
