HD Bank achieves numerous top positions on fastest-growing lists in Egypt

HD Bank has shown strong performance this year, leading many of the fastest-growing lists, continuing its successful journey since Hassan Ghanem took over as CEO in September 2017.

This is evident in the bank's top rankings in the classifications issued by First Bank

 center, measuring and classifying the financial performance of banks listed on the Egyptian Stock Exchange.

HD Bank topped First Bank list of fastest-growing banks in net profits during the first half of this year, with its net profits jumping by approximately 150.41% to reach 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 EGP 1.81 bn, achieving the highest quarterly growth rate in its net profits in 5 years.

Moreover, the bank secured the first position on First Bank list of fastest-growing banks in net interest income  during the first half of this year, after rising by about 116.09% to reach EGP 4.53 bn during the first half of 2023, compared to EGP 2.1 bn during the same period in 2022, an increase of EGP 2.43 bn.

It also topped First Bank list for the most efficient listed banks in achieving return on equity with an average rate of 26.73% during the first half of 2023.

Additionally, HD Bank claimed the first position on First Bank list of fastest-growing banks in total retail deposits during the first half of this year, with a growth rate of 39.71%, as its portfolio increased to EGP 38.04 bn at the end of June 2023, compared to EGP 27.22 bn at the end of 2022, an increase of EGP 10.81 bn.

Furthermore, it secured the second position on First Bank list for the most efficient listed banks in terms of asset utilization with an average rate of 2.81% during the first half of 2023.

It also held the second position on First Bank list of fastest-growing banks in direct loans during the first half of this year, with a growth rate of 37.5%, as its portfolio increased to EGP 8.42 bn at the end of June 2023, compared to EGP 6.12 bn at the end of 2022, an increase of EGP 2.29 bn.

Moreover, it claimed the third position on First Bank list of fastest-growing banks in credit cards during the first half of this year, with its portfolio increasing by about 14.55% to reach EGP 109.7 mn at the end of June 2023, compared to EGP 957.67 mn at the end of 2022, an increase of EGP 13.93 mn.

Additionally, the bank ranked third on First Bank list for the best listed banks in terms of capital adequacy, with a ratio of about 21.18% at the end of June 2023.

It also secured the third position on the composite First Bank index for the fastest-growing listed banks during the first half of 2023, achieving a composite growth rate of 41.27% during the first half of this year, attributed to the bank's net profit growth of 150.41%, as well as the growth rates of 6.79% and 6.32% in total assets and customer loans, and 1.57% in deposits, respectively.

Additionally, HD Bank stock experienced significant growth during the first 9 months of this year, jumping by about 48.88% to reach EGP 25.34 per share at the end of September 2023, compared to EGP 17.02 per share at the end of 2022, an increase of EGP 8.32 per share.

The strong performance of the bank during this year reflects the efficiency and effectiveness of the plans and strategies implemented by the bank's management led by Hassan Ghanem and his team. This indicates a significant development in the bank's market shares and brand during the upcoming period, provided this outstanding performance continues.

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