HD Bank top Egyptian banks in terms of ROE
First Bank
HD bank achieved strong and exceptional performance this year, leading First Bank list of the most efficient Egyptian banks in investing shareholders' Equity, with an average return on shareholders’ equity ( ROE) during the first half of this year, moving up from the fourth position during the same period in 2022.
ROE increased to 26.73% during the first half of 2023, compared to 12.87% during the same period in 2022, reflecting the bank's strong and growing ability to invest its shareholders' Equity and achieve record levels of net profits.
The bank's significant leap in profits was a key factor in topping this list, with its net profits jumping by approximately 150.41%, reaching EGP3.02bn 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 fastest-growing bank in net profits during the first half of this year.
It also secured the second position among banks operating in the Egyptian banking sector as a whole.
HD Bank has shown remarkable growth in its indicators overall since the beginning of this year, leading First Bank list for the fastest-growing banks in net interest income during the first half of this year, following a 116.09% increase, reaching EGP4.53 bn during the first half of 2023, compared to EGP2.1 bn during the same period in 2022, with an increase of EGP2.43 bn.
It seized the top spot on First Bank list for the fastest growth in total retail deposits during the first half of this year, with a growth rate of 39.71%, as its portfolio reached EGP38.04 bn at the end of June 2023, compared to EGP27.22 bn at the end of 2022, an increase of EGP 10.81 bn.
HD Bank also claimed the second position on First Bank list for the most efficient banks in investing its assets, with an average return on assets of 2.81% during the first half of 2023.
Additionally, it secured the second position on First Bank list for the 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 EGP8.42 bn at the end of June 2023, compared to EGP6.12 bn at the end of 2022, an increase of EGP2.29 bn.
This outstanding performance is driven by the efforts of Hassan Ghanem, the CEO of the bank, and his team, who managed to achieve a significant breakthrough in the bank's indicators, leading it to top the lists of the fastest-growing banks in Egypt.
It's worth mentioning that if this strong growth in its indicators continues, the bank is expected to be among the top players in the coming years. For the complete list, click on 'More.'"
