HD Bank top Egyptian banks in focusing on retail banking

Housing and Development Bank topped the list of 'First Banks' for individual loans by the end of June last year, maintaining its position. Retail loans from the bank accounted for 56.53% of its total customer loans by the end of the first half of 2023. The bank's Retail loans portfolio reached EGP 22.93 bn by June 2023, showing a growth rate of 8.21% from the previous year.

The Housing and Development Bank's total financing increased from EGP 38.16 bn at the end of 2022 to EGP 40.57 bn by June 2023, a growth rate of 6.32%. The bank's net profit surged by approximately 150.41% in the first half of 2023, reaching EGP 3.02 bn compared to EGP 1.20 bn during the same period in 2022. Net income from returns reached EGP 4.53 bn in the first half of 2023, a 116.09% increase from the previous year.

The bank also saw a 40.43% growth in fee and commission income, reaching EGP 329.74 mn in the first half of 2023. Customer deposits increased by 1.57% to EGP 90.89 bn by June 2023. The total customer loan portfolio reached EGP 40.57 bn by June 2023, a 6.3% increase from the previous year.

It's worth noting that the Housing and Development Bank offers banking services to corporates in addition to retail banking and investment services in Egypt through 99 branches and employs 2921 staff as of June 2023.

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