HD Bank's stock surges by 48.88% over 9 months
First Bank
HD Bank stock has shown significant growth in the first 9 months of this year, jumping by approximately 48.88% to reach EGP 25.34 at the end of September 2023, compared to EGP 17.02 at the end of 2022, an increase of EGP8.32 per share.
Additionally, the bank's shares witnessed a 23.73% increase during the third quarter of 2023, with a trading value of EGP98.35 mn distributed among EGP4.17 mn.
The outstanding performance of HD Bank shares reflects investors' optimism about the bank's future and its ability to achieve further growth and expansion in the market.
The bank has shown significant growth in its overall indicators since the beginning of this year, leading First Bank list of the fastest-growing listed banks in net profits during the first half of this year, with its net profits increasing by about 150.41% to reach EGP3.02 bn during the first half of 2023, compared to EGP1.20 bn during the same period in 2022, an increase of EGP1.81 bn.
The bank also topped First Bank list of the fastest-growing listed banks in income from returns during the first half of this year, following a 116.09% increase, reaching EGP 4.53 bn during the first half of 2023, compared to EGP2.1 bn during the same period in 2022, an increase of EGP 2.43 bn.
Furthermore, it topped First Bank list for the most efficient listed banks in achieving return on shareholders' equity, with an average return rate of 26.73% during the first half of 2023.
The bank also secured the top spot on First Bank list for the fastest growth in total retail deposits during the first half of this year, with a rate of 39.71%, as its portfolio reached EGP38.04 bn at the end of June 2023, compared to EGP 27.22 bn at the end of 2022, an increase of EGP10.81 bn.
Total loan portfolio increased by a growth rate of 6.3% during the first half of this year, reaching EGP 40.573 bn at the end of June 2023, compared to EGP 38.163 bn at the end of December 2022, an increase of EGP 2.410 bn
Asset portfolio also increased by about 6.79%, reaching EGP 110.665 bn at the end of the first half of 2023, compared toEGP 103.632 bn at the end of 2022, an increase of EGP7.033 bn.
