HD Bank’s net profits jump 150.4% during H1-2023, recording EGP 3.015 bn

Unaudited financial statements of HD Bank, for the period ending on June 30, 2023, revealed a 150.4% increase in the bank's net profits, reaching EGP 3.015 mn during the first half of 2023. This compares to EGP 1.676 bn during the same period in 2022, an increase of 1.811bn.

Pre-tax profit in the bank surged by an impressive 140.5%, totaling EGP 4.030 bn in the first half of 2023, compared to EGP 1.676 bn in the first half of 2022, with an increase of EGP 2.354.

At the level of the bank's  financial position, HD Bank's total deposits increased by 1.6% and an increase of EGP 1.405 bn, to record EGP 90.890 bn by the end of June 2023, compared to EGP 89.485 bn by the end of 2022.

In addition, Bank's total loan portfolio increased with a growth rate of 6.3% during the first half of current year, reaching EGP40.573 bn by the end of June 2023, compared to EGP38.163 bn by

The bank's reserves jumped by 48.3% during the first half of current year, to record EGP4.291 bn by the end of June 2023, compared to EGP 2.894 bn by the end of December 2022, with an increase of EGP1.397bn.