HD Bank grows by 55.1% on FirstBank composite growth index During 2023

The separate financial statements of HD Bank, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 55.1% during 2023.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during 2023.

HD Bank managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 167.25%, reaching EGP 6.031 bn during 2023, compared to EGP 2.257 bn during 2022.

The bank's asset portfolio was the Second contributor to the growth, achieving a growth rate of 20.72% and an increase of approximately EGP 21.5 bn during 2023, reaching EGP 125.1 bn by the end of December 2023, compared to EGP 103.6 bn by the end of December 2022.

Total customer loans rose by 19.19% during the last year, reaching EGP 45.5 bn by the end of December 2023, compared to EGP 38.2 bn by the end of December 2022, an increase of EGP 7.3 bn.

In addition, customer deposits surged by 13.17% and an increase of EGP 11.8 bn during the last year, reaching EGP 101.3 bn by the end of December 2023, compared to EGP 89.5 bn by the end of December 2022.