HD Bank’s corporate sector achieves significant performance during H1-2024

Housing and Development Bank's corporate sector witnessed a remarkable development during the first half of 2024, achieving strong results thanks to the outstanding performance of the bank and the competent work team.

This growth has not only increased the volume of loans, but also included strengthening the deposits of corporates that have registered strong growth, reflecting the growing confidence of corporates and institutions in the Bank's services

This outstanding performance has enhanced the Bank's position as a key player in the corporate loans sector, thanks to its effective strategy of increasing direct and syndicated loans and expanding the corporate customer base.

A record leap in corporate loans, its Portfolio jumps 17.4% in 6M

HD Bank strengthened its loans for corporates during the first half of 2024, pushing the portfolio of corporate loans to grow by 17.4%, reaching EGP 24.1 bn by the end of June, compared to EGP 20.6 bn by the end of 2023, with an increase of EGP 3.6 bn.

This strong performance was driven mainly by an increase in the bank’s direct loans, which exceeded EGP 13 bn by the end of June 2024, compared to EGP 10.2 bn by the end of 2023, by 28.5% growth and an increase of EGP 2.9 bn.

The Bank's syndicated loans portfolio rose by 24.87% in the first half of 2024, exceeding EGP 4 bn by the end of the second quarter of this year, compared to EGP 3.3 bn by the end of 2023, with an increase of EGP 816 mn.

The debit current account balances of corporates was EGP 6.8 bn by the end of June 2024, compared to EGP 6.9 bn by the end of 2023, while other loans recorded EGP 213.5 mn by the end of the same period.

The corporate sector of HD Bank contributed 47.56% to the Bank's total loans portfolio, which jumped to EGP 50.8 bn by the first half of 2024, compared to EGP 45.5 bn by the end of 2023, with a growth of 11.60% and an increase of EGP 5.3 bn.

Corporate sector accounts for 55.94% of the Bank’s deposits portfolio

The Bank’s corporate deposits portfolio recorded strong growth during the first 6M of this year, jumping to EGP 68.1 bn by the end of June 2024, compared to EGP 55.2 bn by the end of 2023, with a growth of 23.4%, and an increase close to EGP 13 bn.