HD Bank Tops Fastest growing listed banks in Egypt

Housing and Development Bank has achieved a strong performance over the past year, pushing it to top First Bank Composite Growth Index for the fastest growing banks in 2023 with a Composite growth rate of 55.08%, up from fourth position on the same list in 2022.

This strong performance is driven by the significant growth achieved by the Bank in its net profits, which jumped by 167.2%, to surpass EGP 6 bn for the first time in the Bank's history in 2023, compared to EGP 2.3 bn in 2022, with an increase of EGP 3.8 bn.

Assets also played an important role in the Bank's leading the First Bank Composite growth index for the fastest-growing listed banks over the past year, with its asset portfolio rising by 20.72% over the past year, registering EGP 125.1 bn by the end of December 2023, compared to EGP 103.6 bn by the end of 2022.   The Bank's loans was the third contributor to this growth, with total customer loans growing to EGP 45.5 bn by the end of last year, compared to EGP 38.2 bn by the end of 2022, with a growth of 19.19% on an annual basis.

The customer deposit portfolio jumped from EGP 89.5 bn by the end of 2022, to EGP 101.3 bn by the end of 2023, with a growth of 13 .17% and an increase of EGP 11.8 bn.

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