HD Bank Tops Listed Banks in Return on Shareholders' Equity in H1-2023
First Bank
Housing & Development Bank has managed to top the list of the most efficient listed banks in terms of achieving Return on shareholders' Equity, with Return rate on Average Equity of 26.73% during the first Half of 2023. This marks an improvement from its fifth position on the same list in 2022.
This performance reflects the bank's strong ability to invest its shareholders ‘Equity and achieve record levels of profits.
The significant jump in HD Bank net profits played a fundamental role in its ranking on this list, as it surged to EGP 3.02 bn during the first 6 months of 2023, compared to EGP 1.20 bn during the same period in 2022, representing a growth rate of 150.41% and an increase of EGP 1.81 bn, thus HD Bank Topped fastest -growing listed banks in terms of net profits during the first half of current year.
HD Bank has been achieving strong performance, during current year as Total customer loans increased with a growth rate of 6.3%, to record EGP 40.57 bn by the end of June 2023, compared to EGP38.16 bn by the end of 2022, with an increase of EGP 2.41 bn.
In addition, the bank's Total asset grew by 6.79% during the first half of the current year, recording 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 7.03 bn.
Deposits portfolio also increased by 1.57%, reaching EGP 90.89 bn by the end of the first quarter of 2023, compared to EGP 89.49 bn by the end of 2022, with an increase of EGP 1.40 bn.
