HD Bank achieves a Breakthrough in Financial efficiency Indicators during 2023
First Bank
HD Bank, achieved a significant progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators in 2023.
The financial statements of HD Bank, ending on December 31 2023, revealed that the bank achieved witnessed a significant increase in return on average equity (ROE) of 46.94% during 2023, compared to 23.06% in 2022.
The return on average assets (ROA) of the bank rose to reach 5.27% during the last year, compared to 2.51% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits surged with a growth rate of 167.21%, reaching EGP 6.031 bn during 2023, compared to EGP 2.257 bn in 2022, with an increase of EGP 3.77 bn.
In terms of earnings per share, the bank recorded a growth rate of 166.5% during the last year, with the bank's share of net profits reaching about EGP 9.94 per share in 2023, compared to EGP 3.73 At 2022.
It is worth mentioning that the bank achieved a growth of 48.5% in its Equity portfolio during the 2023, as it increased from EGP 10.34 bn at the end of December 2022 to EGP 15.36 bn at the end of December 2023, an increase of EGP 5.02bn.
The bank's asset portfolio also increased by 21% during the last year, reaching EGP 125.10 bn at the end of December 2023, compared to EGP 103.63 bn at the end of December 2022, an increase of EGP 21.47 bn.
