HD Bank Exceptional Performance and Rapid Net Profit Growth
First Bank
HD Bank achieved strong performance during the current year, evident in the bank’s topping of First Bank list for listed banks with the fastest growth in net profits during the first 9 months of the current year.
The bank’s separate financial results revealed a net profit growth, reaching EGP 4.4 bn, compared to EGP1.753 bn during the same period in 2022, with an increase of EGP 2.666 bn and a growth of 152% during the nine months ending in September 30, 2023.
Overall, HD Bank recorded strong growth in its key indicators, with assets rising to EGP118 bn by the end of the third quarter of 2023, a growth rate of 14% compared to the end of the previous year.
Total loans in the bank reached EGP 42.858 bn by the end of September 2023, with a growth rate of 12.3% during the first 9 months of the current year, driven by the growth of the corporate and corporate loan portfolio, reaching EGP18.815 bn by the end of the same period, with a growth of EGP1.85 bn and a growth rate of 11%.
There was also an increase in customer deposits by 6.7% to reach EGP95.5 bn during the period ending on September 30, 2023, driven by an increase in retail deposits by 65.7%, reflecting customer confidence in the products and services offered by the bank.”
