HD Bank’s financial efficiency indicators evolution during Q1- 2024
First Bank
HD Bank has achieved progress in its financial efficiency indicators during the first quarter of the current year, The following analysis highlights bank's development in financial efficiency indicators during Q1-2024.
The separate financial statements of HD Bank, ending on March 31 2024, revealed that the bank achieved an increase in return on average equity (ROE) of 15.75% during the first quarter of 2024, compared to 12.64% during the same period of 2023.
The return on average assets (ROA) of the bank reaching 1.88% during the first 3 months of the current year, compared to 1.21% during Q1 2023.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 83.09%, reaching EGP 2.43bn during Q1- 2024, compared to EGP 1.33bn during the same period in 2023, an increase of EGP 1.10bn.
In terms of earnings per share, the bank recorded a growth rate of 84.23% during the first 3 months of 2024, with the bank's share of net profits reaching about EGP 4.09per share during the 2023, compared to EGP 2.22 during Q1- 2023.
It is worth mentioning that the bank achieved a growth of 6.84% in its asset portfolio an increase of EGP 7.84bn during the first quarter of the current year, as it increased from EGP 125.10bn at the end of December 2023 to EGP 132.94bn at the end of March 2024.
The bank's Equity portfolio also surged by 0.55% during the first quarter of the current year, reaching EGP 15.44 bn at the end of March 2024, compared to EGP 15.36 bn at the end of December 2023, an increase of EGP84mn.
