HD Bank’s loans to deposit ratio rose to 45.54% by the end of March 2024

The Bank's separate financial statements ended on March 31 revealed that the Bank's loans to deposit ratio rose to 45.54% by the end of March 2024, compared to 44.91% by the end of December 2023.

The Bank's main indicators saw a remarkable development, after its deposits portfolio volume increased by 5.15% and an increase of about EGP 5.22 bn during the first quarter of this year, to EGP 106.49 bn by the end of March 2024, compared to 101.27 bn by the end of December 2023.

The bank increased its customer loans by about EGP 3.01 bn in the first quarter of this year.

The total portfolio of customers loans and facilities rose by 6.62%, to EGP 48.49 bn by the end of March 2024, compared to 45.48 bn by the end of December 2023.

In terms of financial position, the Bank achieved a growth rate of 6.27%, an increase of EGP 7.84 bn during the first quarter of this year, with total assets of about EGP 132.94 bn by the end of March 2024, compared to 125.10 bn by the end of December 2023.

The net profit of Housing and Development Bank jumped by 83.10% and an increase of EGP 1.10 bn, registering EGP 2.43 bn in the first quarter of 2024, compared with 1.33 bn during the same period in 2023.