HD Bank Continues to Top Fastest Growing Lists

HD Bank has been able to achieve strong growth during this year, driven by its ambitious strategy, whose pillars make strong increases in the Bank's portfolios, to achieve significant increases in its market shares.

This is evident in topping the Bank of several ratings lists issued by the classification centre of the website "FirstBank" to measure and classify the financial performance of the banks listed on the Egyptian stock exchange.

HD Bank topped the fastest growing banks of net profit list in the first 9M of this year, with net profits jumping to EGP 4.42 bn in the first 9M of this year, compared to EGP 1.75 bn in the same period in 2022, with growth of 152.16% and an increase of EGP 2.67 bn.

In addition, HD Bank also ranked first on the list of the fastest growing banks in total individual deposits during the first 9M of this year, after its portfolio jumped by 65.67%, registering EGP 45.10 bn by Q3- 2023, compared to EGP 27.22 bn by the end of 2022, with an increase of EGP 17.88 bn.

The bank grabbed the top of the list of fastest-growing banks in direct loans during the first 9M of this year, with its portfolio rising by 54.26%, reaching EGP 9.44 bn by Q3- 2023, compared with EGP 6.12 bn by the end of 2022, with an increase of EGP 3.32 bn.

Meanwhile, the Bank was at the top of the list of the fastest growing net revenue banks in the first 9M of this year, following a rise of about 114.18%, to register EGP 7.3 bn in the first 9M of 2023, compared to EGP 3.41 bn in the same period of 2022, with an increase of EGP 3.89 bn.

HD Bank also won first place in the FirstBank list of the most efficient listed banks in the return on shareholder funds "return rate on average equity" at a rate of 36.79% during the first 9 months of 2023

At the top of the list of fastest growing banks on common loans in the first 9M of this year, its portfolio jumped to EGP 2.55 bn by Q3- 2023, compared with EGP 2.11 bn by the end of 2022, with a growth of 20.95%, and an increase of EGP 442.18 mn.

Additionally, the bank also ranked first on the FirstBank list of the best banks listed in the Capital Adequacy Standard by the end of September, after registering its Capital Adequacy Standard 24.87% by the end of the same period, reflecting its strong ability to meet its commitments and face any future losses

The Bank was able to clinch second place on the FirstBank's list of combined growth for the fastest growing listed banks in the first 9M of this year, with a combined growth rate of 46.36%, driven mainly by the growth of its net profits at 152.16%, as well as the growth of total portfolios of assets, customer loans and deposits at growth rates of 14.23%, 12.30% and 6.73% respectively during the first 9M of 2023.

It was also able to clinch second place on the FirstBank list of the most efficient listed banks in investing their assets "rate of return on average assets" at a rate of 3.98% during the first 9M of 2023.

The strong performance of HD Bank during this year shows the efficiency and effectiveness of the plans and strategies developed by the Bank's management under the leadership of Hassan Ghanem and his team, which in turn gives an indication of a significant development in the Bank's market and brand shares in the coming period, in case that this outstanding and exceptional performance continue.