Housing and Development Bank leads the First Bank list of top banks in focusing on retail loans by the end of

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HD Bank tops banks in focusing on retail loans

HD Bank  FirstBank
HD Bank

Housing and Development Bank leads the First Bank list of top banks in focusing on retail loans by the end of the first quarter of this year, as retail loans represented 53.17% of its total customer loans by the end of March 2024.

HD Bank maintained its place, ranking First on the First Bank list of top banks in focusing on retail loans by the end of 2023.

The Bank has a relatively large portfolio of retail loans, rising to EGP 25.8 bn by the end of March 2024, compared to EGP 24.9 bn by the end of 2023, with a growth of 3.48% and an increase of EGP 865.9 mn.

Notwithstanding the considerable attention paid by HD Bank to the retail banking sector, it does not neglect corporate loans "including Corporate and Business Banking", as it continues to make remarkable progress, as evidenced by the continued growth of its portfolio of corporate loans.

The Bank's corporate loans jumped by about 10.42% in the first 3M of this year, reaching EGP 22.7 bn by the end of March 2024, compared to EGP 20.6 bn by the end of 2023, with an increase of EGP 2.1 bn.

Overall, HD Bank recorded a strong performance during the year, with the bank's net profit jumping by 83.10%, to EGP 2.43 bn in the first quarter of 2024, compared to EGP 1.33 bn in the first quarter of 2023, with an increase of EGP 1.10 bn.

Net interest income rose by 82.59%, reaching EGP 3.7 bn in the first quarter of 2024, compared to EGP 2 bn in the same period from 2023, with an increase of EGP 1.7 bn.

Net fees and commissions income rose to EGP 212.1 mn in the first quarter of 2024, compared to EGP 164.3 mn during the same period of 2023, with a growth of 29.15% and an increase of EGP 47.9 mn.

Regarding the Bank's financial position, the asset portfolio rose by 6.27% and an increase of EGP 7.84 bn during the first quarter of this year, rising to EGP 132.94 bn by the end of March 2024, compared to 125.10 bn by the end of December 2023. The size of the Bank's customer deposit portfolio increased by 5.15% and an increase of 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’s total customer loans rose to EGP 48.5 bn by the end of March 2024, compared to EGP 45.5 bn by the end of 2023, with a growth of 6.62%, and an increase exceeds EGP 3 bn.

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