HD Bank's Net Profits Jump by 167.2%, recording EGP 6.031 bn during 2023
First Bank
Unaudited financial statements of HD Bank,, ending on December 31 of the last year, revealed an increase in the bank’s net profit with a growth rate of 167.2% during the last year, reaching EGP 6.031 bn during 2023, compared to EGP 2.257 bn during 2022, achieving an increase of EGP3.774bn.
The bank's pre-tax profit witnessed a growth of 145.3%, amounting to an increase of EGP 4.866 bn during the last year, recording EGP 8.216 bn during 2023, compared to EGP 3.350 during 2022.
In terms of earnings per share, the bank recorded a growth rate of 172% during the last year the bank's share of net profits reaching about EGP 10.17 per share during 2023, compared to EGP 3.73 during2022.
At the level of the bank's financial position, The bank's total deposits portfolio jumped from EGP 89.48 bn at the end of 2022 to EGP 101.274 bn at the end of 2023, with a growth rate of 13.2% over the past year, an increase of EGP 11.789 bn.
Total customer loans increased by 19.2%, amounting to EGP 45.485 bn by end of 2023 compared to EGP 38.163 bn by the end of December 2022. an increase of EGP 7.322 bn.
The bank's reserves jumped by 48.3% during the last year, to record EGP 4.291 bn by the end of December 2023, compared to EGP 2.894 bn by the end of December 2022, with an increase of EGP1.397bn.
It is worth mentioning that the bank achieved a growth of 48.5% in its Equity portfolio during 2023, as it increased from EGP 10.342 bn at the end of December 2022 to EGP 15.357bn at the end of December 2023, an increase of EGP 5.015 bn.
