HD Bank Top Egyptian banks in terms of ROE At 9M-2023
First Bank
The Housing and Development Bank has achieved a strong and exceptional performance over the past year, pushing it to top the First Bank list of the most efficient Egyptian banks in investing shareholder’s Equity (the average return on equity) during the first 9M of 2023, up from the forth position during the same period from 2022.
The average return on equity at HD Bank jumped to 36.79% during the first 9M of 2023, compared to 18.45% during the same period in 2022, reflecting the strong and growing ability of the Bank to invest its shareholder’s Equity in achieving record levels of net profits.
This strong performance is due to the significant leap achieved by HD Bank in its profits, with net profits jumping by about 152.16%, to EGP 4.42 bn during the first 9M of 2023, compared to EGP 1.75 bn during the same period in 2022, with an increase of EGP 2.67 bn, topping Frist Bank's list of the fastest growing listed banks in net profits in the same period.
HD Bank has grown strongly in almost all its indicators since Hassan Ghanem assumed executive leadership in late 2019, with the bank's assets rising by 138.5%, reaching EGP 118.4 bn by the end of Q3 of 2023, compared to EGP 49.6 bn by the end of September 2019, with an increase of EGP 68.7 bn.
The Bank’s total customer loans jumped to EGP 42.9 bn by the end of September 2023, compared to EGP 18.4 bn by the end of Q3 of 2019, with a growth of 133% and an increase of EGP 24.5 bn.
The size of the deposit portfolio rose by 146.1%, reaching EGP 95.51 bn by the end of September 2023, compared to EGP 38.8 bn by the end of Q3 of 2019, with an estimated increase of EGP 56.7 bn.
The Bank's total financial investments rose by 157.6%, registering EGP 28.8 bn by the end of September 2023, up from EGP 11.2 bn by the end of Q3 of 2019, with an estimated EGP 17.6 bn.
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