HD Bank Tops Banks in focusing on retail loans

Housing and Development Bank leads First Bank list of top banks in focusing on retail loans by the end of December, with retail loans receiving 54.78% of the Bank’s total customer loans by the end of 2023.

HD Bank maintained its position, with ranking first before on First Bank list of top banks in focusing on retail loans by the end of 2022.

The Bank has a large portfolio of retail loans accounted for nearly 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.

Notwithstanding 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 jumped 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.

Overall, HD Bank recorded a strong performance over the past year, with net profits jumping by 167.2%, surpassing 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 main share in the Bank's profit in 2023 rose to EGP 10.17 per share, compared to EGP 3.73 per share in 2022, with a growth of 172.7% and an increase of EGP 6.44 per share.

Net fees and commissions income rose by 26.96% over the past year, to EGP 244.5 mn in 2023, compared to EGP 192.6 mn in 2022.

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.

Regarding the Bank's financial position, its asset portfolio rose by 20.72% over the past year, reaching EGP 125.1 bn by the end of December 2023, compared to EGP 103.6 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.

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.

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