HD Bank grows by 41.27% on First Bank Composite Growth Index during H1-2023

The separate financial statements of Housing & Development Bank- HD Bank, which ended on June 30, 2023, revealed that the bank recorded a compound growth rate of 41.27% during the first half of Current year.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to June 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 150.41% to record EGP 3.02 bn during H1- 2023, compared to EGP 1.20 bn at the same period 2022, with an increase of EGP 1.811bn.

In addition, the bank's Total asset came in second place with a growth rate of 6.79% during the first half of current year, to reach EGP 110.67 bn by the end of June 2023, compared to EGP 103.63 bn by the end of 2022, with an increase of EGP 7.03bn.

Furthermore, Total customer loans came in third place with a growth rate of 6.32%, to record EGP 40.57 bn by the end of June 2023, compared to 38.16 bn by the end of 2022, with an increase of EGP 2.41 bn.

Total customer deposits achieved a growth rate of 1.57% to reach EGP   90.89 bn by the end of June 2023, compared to EGP 89.49 bn by the end of 2022, with an increase of EGP 1.40 bn.