HD Bank retail deposits Jump by 88%, reaching EGP 51.1 bn by end of 2023

The financial statements of HD Bank, ending on December 31, 2023, revealed a total growth of retail deposits by 88% during 2023, to record EGP 51.13 bn by the end of December 2023, compared to EGP 27.23 bn by the end of December 2022, with an increase of EGP 23.90 bn.

Total portfolio of corporate deposits at the bank declined by 19.5% to record EGP 50.15 bn by the end of December 2023, compared to EGP 62.26 bn by the end of December 2022.

Total portfolio of customer deposits at the bank rose by 13.17% during the last year, rising from EGP 101.27 bn by the end of December 2022 to EGP89.49bn by the end of December 2023.

The increase in the total customer deposit portfolio is attributed to the rise in the size of “savings certificates” which grew by 18.10%, registering an increase of EGP 1.87 bn during 2023, reaching EGP 12.20 bn by the end of December 2023, compared to EGP 10.33 bn by the end of December 2022.

The size of the “time and notice deposits” portfolio surged by 17.76%, reaching EGP 14.66 bn by the end of December 2023, compared to EGP 12.45 bn by the end of December 2022, while ‘demand deposits’, recorded EGP 45.51 bn by the end of 2023, compared to EGP 54.33 bn by the end of December 2022.