HD Bank stock continues to rise in 2023, jumping 105% over 10 months

HD Bank stock has seen significant growth in the first 10 months of this year, soaring by approximately 105% to reach EGP34.89  at the end of October 2023, compared to EGP 17.02 at the end of 2022.

This increase of EGP26.87 reflects its strong performance under the leadership of Hassan Ghanem, the CEO and Managing Director of the bank.

During the past October, the bank's stock experienced a 37.69% increase, with a total trading value of EGP99.113 mn distributed among EGP 3.395 mn This outstanding performance of the bank  stock reflects investors' optimism about the bank's future, its ability to achieve further growth, and expand in the market.

The bank has shown remarkable growth in its overall indicators since the beginning of this year. It topped the First Bank list of listed banks with the fastest growth 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 EGP 1.20 bn during the same period in 2022, an increase of EGP1.81 bn.

It also secured the first position on First Bank list of listed banks with the fastest growth 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 EGP2.43 bn.

Additionally, it also topped First Bank list of the most efficient listed banks in achieving return on shareholders' Equity (return on average equity) at a rate of 26.73% during the first half of 2023.

The bank also claimed the top spot on First Bank list of listed banks with the fastest growth in total retail deposits during the first half of this year, with a rate of 39.71%. Its portfolio reached EGP38.04 bn by the end of June 2023, compared to EGP27.22 bn at the end of 2022, an increase of EGP10.81bn

Total loan portfolio increased by a growth rate of 6.3% during the first half of this year, reaching EGP40.573 bn by 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 EGP110.665 bn by the end of the first half of 2023, compared to EGP 103.632 bn at the end of 2022, an increase of EGP7.033 bn.