HD Bank Tops Listed Banks in Focusing on Retail Loans in H1- 2023

The daily morning newsletter from First Bank revealed, today, that HD Bank topped the list of banks listed with a focus on retail loans by the end of June last year.

Retail loans provided by HD Bank accounted for 56.53% of its total customer loans by the end of the first half of 2023, maintaining its lead. The bank had previously held the top position in 2022 as well.

HD Bank manages a significant portfolio of retail loans, which amounted to EGP22.93 bn by the end of June 2023, up from EGP21.19 bn at the end of 2022, representing a growth rate of 8.21% and an increase of EGP1.74 bn.

Total financing by HD Bank increased from EGP38.16 bn at the end of 2022 to EGP 40.57 bn at the end of June 2023, with a growth rate of 6.32% and an increase of EGP2.41 bn.

HD Bank achieved strong performance since the beginning of the current year, with a net profit increase of approximately 150.41%, reaching EGP 3.02 bn during the first half of 2023, compared to EGP 1.20 bn during the same period in 2022, an increase of EGP1.81 bn, making it the top of the list of First Bank for the fastest-growing listed banks in net profits during the first half of the current year.

Asset portfolio rose by approximately 6.79% to reach EGP110.67 bn by the end of the first half of 2023, from EGP 103.63 bn at the end of 2022, an increase of EGP7.03 bn.

Customer deposits increased by about 1.57% to reach EGP 90.89 bn by the end of June 2023, compared to EGP89.49 bn at the end of 2022, with an increase of EGP 1.40 bn.

It is worth noting that HD Bank provides banking services to corporates as well as retail banking and investment services in Egypt through 99 branches, employing 2,921 employees by the end of June 2023.

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