HD Bank achieves a Breakthrough in Financial Efficiency indicators At 9M-2023

HD Bank has made significant progress in its financial efficiency indicators during the first 9 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 36.79% during the first 9M - 2023, compared to 18.45% during the same period in 2022.

In addition, Return on Average Assets (ROA) increased to 3.98% during the first 9M 2023, compared to 1.96% during the same period in 2022.

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 152.2%, reaching EGP 4.42 bn during the first 9 months 2023, compared to EGP 1.75 bn during the same period in 2022.

The bank also strengthened its earnings per share, with the earnings per share for the bank's profits during the period from January to September 2023 reaching EGP 7.45 per share, compared to EGP 2.94 per share during the same period in 2022, showing a growth rate of 153.4%

HD Bank has demonstrated exceptional performance since the beginning of this year, as Its total equity increased by 32.33% during the first 9 months of this year, to record EGP13.7bn by the end of September 2023, compared to EGP 10.3 bn at the end of December 2022, with an increase of EGP 3.3 bn.

The bank's asset portfolio increased by 14.23%, reaching EGP118.4bn at the end of the first 9M of 2023, compared to EGP103.63 bn at the end of 2022, with an increase of EGP 14.7 bn.

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