HD Bank’s customer deposits rose by more than EGP 72 bn in 5 years
First Bank
Housing and Development Bank has made remarkable progress in customer deposits over the last five years, jumping its portfolio from EGP 34.1 bn at the end of 2018 to EGP 106.5 bn at the end of March 2024, representing a growth of 212.1% and an increase of EGP 72.4 bn.
Tracking its journey over the period under analysis, the highest growth rate achieved by the portfolio, and the highest increase value, was in 2022, rising by about 42.3%, to EGP 89.5 bn by the end of 2022, compared to EGP 62.9 bn by the end of 2021, with an increase of EGP 26.6 bn.
The second highest growth rate, and the second highest growth value, was seen in the portfolio in 2021. The bank's total customer deposits jumped by EGP 15.8 bn, to EGP 62.9 bn by the end of 2021, compared to EGP 47.1 bn by the end of 2020, with a growth of 33.47% on an annual basis.
As for the growth of the portfolio during the year, it rose by 5.15% to EGP 106.5 bn by the end of March 2024, compared to EGP 101.3 bn by the end of 2023, with an increase of EGP 5.2 bn.
In terms of the Bank's deposit market trends, corporate controlled them, accounting for 55.70% of the Bank's total deposits by the end of March 2024, compared to 52.13% by the end of 2018.
While retail deposits took 44.30% of the Bank's total customer deposit portfolio by the end of Q1 of this year, compared to 47.87% by the end of 2018.
It should be noted that corporate deposit portfolio rose to EGP 59.3 bn by the end of March 2024, compared to EGP 17.8 bn by the end of 2018, with a growth of 233.51% and an increase of EGP 41.5 bn.
The portfolio of retail deposits rose by about 188.8%, reaching EGP 47.2 bn by the end of Q1 of this year, compared to EGP 16.3 bn by the end of 2018, with an increase of EGP 30.8 bn.
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