HD Bank tops most efficient banks In Return On Shareholders' Equity in Egypt
First Bank
Housing and Development Bank has achieved a strong and exceptional performance over the past year, pushing it to top First Bank list of the most efficient Egyptian banks in Return On Shareholders' Equity "Rate of return on average equity" in 2023, up from sixth position in 2022.
The rate of return on average equity in HD Bank rose to 46.93% during the first 9M of 2023, compared to 23.06% in 2022, reflecting the strong and growing ability of the Bank to invest its Shareholders' Equity in achieving record levels of net profits.
Its outstanding performance is due to the significant jump in his profit levels, as its net profits jumped by 167.3% over the past year, registering EGP 6 bn in 2023, compared to EGP 2.3 bn in 2022, with an increase of EGP 3.8 bn, ranking second on the list of the fastest growing banks in net profit, and first at the level of listed banks.
HD Bank has achieved a strong performance over the past year, with its assets portfolio rising by 20.72% over the past year, to EGP 125.1 bn by the end of December 2023, compared to EGP 103.6 bn by the end of 2022.
The Bank’s total customer loans grew by EGP 7.3 bn, to reach EGP 45.5 bn by the end of last year, compared to EGP 38.2 bn by the end of 2022.
The customer deposits portfolio jumped from EGP 89.5 bn by the end of 2022, to EGP 101.3 bn by the end of 2023, with a growth of 13 .17% and an increase of EGP 11.8 bn.
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.
Net fees and commissions income rose by 26.96% over the past year, reaching EGP 244.5 mn in 2023, compared to EGP 192.6 mn in 2022.
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