HD Bank’s net profits grow by 71.1%, recording EGP 5.16 bn during H1-2024

Unaudited financial statements of HD Bank, ending on June 30 of the current year, revealed an increase in the bank’s net profit with a growth rate of 71.1% during the first Half of the current year, reaching EGP 5.158 bn during H1-2024, compared to EGP 3.015bn during the same period of 2023, achieving an increase of EGP2.143bn.

The bank’s pre-tax income jumped by 72.2%, with an increase of EGP2.911 bn, reaching EGP 6.941 bn during H1-2024, compared to EGP 4.030 bn during the same period in 2023.

In terms of earnings per share, the bank recorded a growth rate of 71.7% during the first Half of this year the bank's share of net profits reaching about EGP 8.69 per share during H1 2024, compared to EGP 5.06 during the same period of 2023.

At the level of the bank's financial position, the bank's total deposits portfolio jumped from EGP 101.274 bn at the end of 2023 to EGP 121.703 bn at the end of June 2024, with a growth rate of 20.2%, an increase of EGP 20.429 bn.

In addition, Bank's total loan portfolio increased with a growth rate of 11.6% during the first half of current year, reaching EGP50.763bn by the end of June 2024, compared to EGP45.485bn by the end of December 2023.

The bank's reserves jumped by 84.4% during the first Half of the current year, to record EGP 7.913 bn by the end of June 2024, compared to EGP 4.291 bn by the end of December 2023, with an increase of EGP3.622bn.