HD Bank Retail Deposits grow by 14.45%, reaching EGP 31.2 bn by March-2023end

The separate financial statements of HD Bank, ending on March 31, 2023, revealed a total growth of individual deposits by 14.45% during the first quarter of 2023, reaching a value of EGP 31.159 bn by the end of March 2023, compared to EGP 27.225 bn by the end of December 2022, representing 32.33% of the bank's total deposits.

Total portfolio of corporate deposits at the bank increased by 4.77% during the first quarter of the current year, with a value of EGP 65.232 bn by the end of March 2023, compared to EGP 62.261 bn by the end of December 2022, accounting for 67.67% of the bank's total customer deposits.

The increase in the total customer deposit portfolio is attributed to the rise in corporate deposit portfolio at the bank by EGP 2.971 bn during the first quarter of 2023, while individual deposits increased by EGP 3.934 bn during the same period.

The increase in the achieved growth is reflected in the portfolio of demand deposits, which grew by 6.46% during the first quarter of the current year, reaching  EGP 57.840 bn by the end of March 2023, compared to EGP 54.329 bn by the end of December 2022, with an increase of EGP 3.511 bn. Additionally, the portfolio of other deposits grew by 97.82% during the same period.

Total portfolio of time deposits and savings reached around EGP 11.975 bn by the end of March 2023, while the portfolios of savings certificates and savings deposits reached EGP 10.121 bn and EGP 6.852 bn, respectively, by the end of the same period.

It is worth mentioning that total portfolio of customer deposits at the bank increased by 7.72% and an increase of EGP 6.906 bn during the first quarter of the current year, reaching a value of EGP 96.391 bn by the end of March 2023, compared to EGP 89.485 bn by the end of December 2022.