HD Bank’s mortgage loans grow by 65.4% by the end of 2023

The separate financial statements of the Housing and Development Bank revealed that its mortgage loans rose by 65.39%, and the value of an increase of 2.7 bn pounds by the end of last year, reaching 6.5 bn pounds by the end of December 2023, compared to 3.93 bn by the end of December 2022. First Bank website monitors the development of HD Bank’s mortgage loans by the end of last year.

The bank achieved a leap in direct loans for mortgage activities, jumping by 3229% over the past year, moving its portfolio from 46.64 mn pounds by the end of December 2022, to 1.55 bn pounds by the end of December 2023, bringing an increase of 1.50 bn pounds. 

The relative weight of direct loans portfolio for mortgage activity increased significantly to receive a share of 23.9% of total mortgage loans by the end of December last year, compared to a relative weight of 1.2% by the end of 2022.

As for debit current accounts of mortgage activity, it rose by 136 mn pounds, registering 2.59 bn pounds by the end of December 2023, compared to 2.45 bn pounds by the end of December 2022, to grow by 5.6%. 

Despite the limited growth in debit current accounts balances of mortgage activity, it still accounted for the largest share of the Bank's total loans for this activity, with a share of about 39.8% by the end of December 2023.

The bank also expanded its syndicated loans of mortgage activities, jumping 64.8% over the past year, registering 2.36 bn pounds by the end of December 2023, compared to 1.4 bn pounds by the end of 2022. 

HD Bank's syndicated loans of mortgage activity accounted for 36.27% of its total loans for this activity by the end of December 2023.

The relative weight of the Bank’s loans of mortgage activities increased to 31.58% of the total corporate loans of the Bank by the end of 2023, compared to 23.2% of its total corporate loans by the end of 2022.

It is worth mentioning that the Bank's corporate loan portfolio rose by 21.28%, registering 20.57 bn pounds by the end of last year, compared to 16.97 bn pounds by the end of 2022, with an increase of 3.60 bn pounds.

It should be noted that HD Bank’s total customer loans rose by 7.3 bn pounds over the past year, reaching 45.49 bn pounds by the end of December 2023, compared to 38.16 bn pounds by the end of 2022, with a growth of 19.2%.