HD Bank's retail loans grow by 3.5%, reaching EGP 25.8 bn by March- 2024 end

The financial statements of HD Bank, for the period ending on March 31 of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 3.5% during Q1- 2024, amounting to an increase of EGP 866 mn.

The size of the bank's portfolio of retail loans reached EGP 25.78 bn by the end of March 2024, compared to EGP 24.92 bn by the end of December 2023.

The size of the bank's credit cards jumped by 35.1%, with an increase of EGP 45 mn during the first 3 months of 2024, moving from EGP 127.54 mn by the end of December 2023, to reach EGP 172.29mn by the end of March 2024.

Contributing to this growth, HD Bank's personal loans rose by 5.6% and witnessed an increase of EGP 623 mn during the first quarter of this year to record EGP 11.79bn by the end of March 2024, compared to EGP 11.17bn by the end of December 2023.

In addition, the bank's portfolio of Mortgage loans surged by 2.83% with an increase of EGP 354 mn during the first quarter of the current year, to record EGP 12.87 bn by the end of March 2024, compared to EGP 12.52 bn by the end of December 2023.

It is worth noting that the total customer loan portfolio rose by 6.62% and an increase of EGP 3.01 bn during the first quarter of the current year, reaching EGP 48.49bn by the end of March 2024, compared to EGP 45.48bn by the end of December 2023.