HD Bank Tops Listed Banks in Focusing on Retail Loans in 2023
First Bank
Housing and Development Bank continued its growing interest in retail loans, which appeared in leading First Bank list of top listed banks in focusing on retail loans by the end of December.
HD Bank maintained its position and ranked first on First Bank list of top listed banks in focusing on retail loans by the end of 2022.
The Bank’s retail loans received 54.78% of its total customer loans by the end of 2023.
HD Bank manages a large portfolio of retail loans reach about EGP 25 bn by the end of 2023, compared to EGP 21.2 bn by the end of 2022, with a growth of 17.6% and an increase of EGP 3.7 bn.
Despite the considerable attention paid by the Bank to the retail banking sector, it does not neglect corporate loans "including Corporate and Business Banking", as it continues to make remarkable progress, as evidenced by the continued growth of its portfolio of corporate loans.
The Bank's corporate loans rose by 21.22% over the past year, registering EGP 20.6 bn by the end of 2023, compared to EGP 16.968 bn by the end of 2022.
HD Bank achieved record business results over the past year, jumping its net profits by 167.2%, surpassing the 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.
The share in the Bank's profits rose in 2023 to EGP 10.17 per share, compared to EGP 3.73 per share in 2022, with growth of 172.7% and an increase of EGP 6.44 per share.
Net interest income rose to EGP 10.5 bn in 2023, compared to EGP 5 bn in 2022, with growth of 113% and an increase of EGP 5.5 bn.
Net fees and commissions income jumped by 26.96% over the past year, reaching EGP 244.5 mn in 2023, compared to EGP 192.6 mn in 2022. The Bank’s total customer loans grew by EGP 7.3 bn, to EGP 45.5 bn by the end of last year, compared to EGP 38.2 bn by the end of 2022.
Its customer deposits portfolio rose to EGP 101.27 bn by the end of 2023, compared to EGP 89.49 bn by the end of 2022, with a growth of 13.2% on an annual basis.
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