HD Bank Continues to Top the Fastest Growing Banks Lists

Housing and Development Bank has been able to achieve strong growth over the past year, driven by its ambitious strategy, the pillars of which are strong increases in the Bank's portfolios, to achieve tangible increases in its market shares.

This is evident in the Bank's leading of several ratings lists issued by the classification centre of the website "First Bank" to measure and classify the financial performance of the listed banks on the Egyptian stock exchange.

HD Bank topped the list of the fastest growing listed banks in net profits in the past year, with net profits jumping by 167.2%, exceeding 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 Bank also ranked first on First Bank's list of the fastest growing listed banks in net interest income over the past year, jumping to EGP 10.5 bn in 2023, compared to EGP 5 bn in 2022, with a growth of 113% and an increase of EGP 5.5 bn.

The bank grabbed the top of the fastest growing listed banks in direct loans over the past year, with a growth rate of 65.82%, after its total portfolio rose to EGP 10.15 bn by the end of December 2023, compared to 6.12 bn by the end of December 2022.

It also won first place in the First Bank list of the most efficient listed banks in Return on Shareholder's Equity at a rate of 46.93% in 2023.

HD Bank came at the top of Frist Bank's list of the fastest growing listed banks in total retail deposits over the past year, with a growth rate of 87.80%, as its portfolio rose to EGP 51.128 bn by the end of December 2023, compared to 27.224 bn by the end of 2022.

The Bank also ranked first on the First Bank list of the best listed banks in Capital Adequacy ratio by the end of last year, after registering a Capital Adequacy ratio of 26.31% by the end of the same period, reflecting its strong ability to meet its obligations and face any future losses.

HD Bank came at the top of Frist Bank's list of the fastest growing listed banks in total financial investments and Treasury bills over the past year, with a growth rate of 56.90%, after its total portfolio jumped to EGP 46.51 bn by the end of December 2023, compared to 29.64 bn by the end of December 2022.

It also clinched the first position on the First Bank composite growth index of the fastest growing listed banks over the past year, with a composite growth rate of 55.08%, driven by net profits growth that jumped by 167.25%, while total portfolios of assets, loans and deposits increased by 20.72%, 19.19% and 13.17% respectively during 2023.

The strong performance of the Bank during 2023 shows the efficiency and effectiveness of the plans and strategies developed by the Bank's management under the leadership of Hassan Ghanem and his team, which in turn gives an indication of the significant development in the Bank's market and shares in the coming period, in case of the Bank continues its outstanding and exceptional performance.