HD Bank, Fastest-growing listed banks in net profits during 2023

HD Bank achieved strong performance during the last year, evident in the bank’s topping the First Bank list for listed banks with the fastest growth in net profits during the last year.

The bank’s separate financial statements revealed net profit growth reaching EGP 6 bn, compared to EGP2.3 bn during 2022, with a growth rate of 167.2% and an increase of EGP 3.8 bn during 2023.

HD Bank strengthened its earnings per share, with the earnings per share for the bank's profits reaching EGP 10.17 per share during 2023, compared to EGP 3.73 per share during 2022, showing a growth rate of 172.7%.

In addition, the Bank recorded strong growth in its key indicators, with assets rising to EGP 125 bn by the end of 2023, with a growth rate of 21%.

Total loans in the bank reached EGP 45.5 bn by the end of December 2023, with a growth rate of 19.2% during the last year, driven by the growth of the corporate loan portfolio, reaching EGP20.569 bn by the end of the same period, with a growth rate of 21%. The retail loan portfolio recorded EGP 24.916 bn by the end of the same period, with a growth rate of 17%.

Total customer deposits witnessed a growth rate of 13.2% to record EGP101.27 bn during 2023, compared to EGP 89.49 bn during 2022.

The bank's total equity increased by 48.5% during the last year to record EGP15.4bn by the end of  2023, compared to EGP 10.3bn at the end of December 2022.