HD Bank achieves a strong breakthrough in financial efficiency indicators during H1-2023

HD Bank has made significant progress in its financial efficiency indicators during the first 6 months of this year, driven by the bank's strong profits and its commitment to the highest regulatory standards under the leadership of Hassan Ghanem, the CEO, and his team.

The bank's Return on Average Equity (ROE) jumped to 26.73% during the first half of 2023, compared to 12.87% during the same period in 2022, making it the top bank on First Bank list of the most efficient Egyptian banks in shareholder investment return during the first half of this year.

Its Return on Average Assets (ROA) increased to 2.81% during the first half of 2023, compared to 1.43% during the same period in 2022, securing the second position on First Bank list for the best banks in achieving return on average assets during the first half of the current year.

The increase in both ROA and ROE is attributed to the success of HD Bank in achieving a strong leap in its net profits during the current year. The net profits of the bank surged by approximately 150.41%, reaching EGP 3.02 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 strengthened its earnings per share, with the earnings per share for the bank's profits during the period from January to June 2023 reaching EGP5.08 per share, compared to EGP2.02 per share during the same period in 2022, showing a growth rate of 151.49% and an increase of EGP3.06  per share.

HD Bank has demonstrated exceptional performance since the beginning of this year, with its net income from returns reaching EGP4.53 bn during the first half of 2023, compared to EGP 2.1 bn during the same period in 2022, with an increase of EGP2.43 bn.

Its net fees and commissions income rose to EGP329.74 mn during the first 6 months of 2023, compared to EGP234.80 mn during the same period in 2022, with a growth rate of 40.43% and an increase of EGP94.94 mn.

The bank's asset portfolio increased by about 6.79%, reaching EGP110.67 bn at the end of the first half of 2023, compared to EGP103.63 bn at the end of 2022, with an increase of EGP7.03 bn.

The bank's reserves jumped by a growth rate of 48.3% during the first half of this year, reaching EGP 4.29 bn by the end of June 2023, compared to EGP 2.89 bn at the end of 2022, with an increase of EGP1.4 bn.

The customer deposit portfolio increased by about 1.57%, reaching EGP90.89 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.

The total customer loan portfolio increased by about 6.3%, reaching EGP 40.57 bn by the end of June 2023, compared to EGP 38.16 bn at the end of 2022, with an increase of EGP2.41 bn.

Its total equity ownership increased by 18.2% during the first half of this year, reaching a portfolio size of EGP12.221 bn by the end of June 2023, compared to EGP10.342 bn at the end of December 2022, with an increase of EGP 1.88 bn.

For more info and news about HDBank... Click for more.