HD Bank Tops Banks with Highest Focus on Retail Loans in Egypt

As of the end of March, HD Bank topped the list of banks with the greatest focus on retail loans. Their portfolio of retail loans accounted for 56% of the total customer loans.

The bank's funding for individuals increased by 3.37%, reaching EGP21.91 bn by the end of the first quarter of 2023, compared to EGP21.19 bn at the end of 2022, marking an increase of EGP 714.49 mn.

Overall, the total funding of HD Bank increased from EGP38.16 bn at the end of 2022 to EGP39.12 bn by the end of the first quarter of 2023, reflecting a growth rate of 2.51%, with an increase of EGP957.48 mn

In general, HD Bank have demonstrated strong performance in the current year. Their net profits surged to EGP 1.32 bn during the first 3 months of 2023, compared to EGP640.29 mn during the same period in 2022, reflecting a growth rate of 106.94% and an increase of EGP 684.69 mn.

Net interest income increased by around 110.34%, reaching EGP 2.03 bn during the first quarter of 2023, compared to EGP 968.58 mn during the same period in 2022, with an increase of EGP1.07 bn.

Net fees and commissions income also rose from EGP109.37 mn during the first quarter of 2022 to EGP164.26 mn during the same period in 2023, marking a growth rate of 50.19% and an increase of EGP54.89 mn.

The bank's total assets jumped to EGP 116.28 bn by the end of the first quarter of 2023, compared to EGP103.63 bn at the end of 2022, reflecting a growth rate of 12.20% and an increase of EGP12.65 bn

Customer deposit portfolio also saw an increase of around 7.72%, reaching EGP96.39 bn by the end of March 2023, compared to EGP 89.49 bn at the end of 2022.