HD Bank grows by 31% on FirstBank composite growth index during H1-2024

The financial statements of HD Bank, which ended on June 30 2024, revealed that the bank achieved a composite growth rate of 30.69% during the first Half of the current year.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio during H1- 2024.

HD Bank managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 71.08%, reaching EGP 5.158bn during the first Half of 2024, compared to EGP 3.015bn during the same period of 2023 with an increase of approximately EGP 2.143bn.

The bank's customer deposits contributor to the growth, rising by 20.17% during H1-2024 to record EGP 121.70bn by the end of June 2024, compared to EGP 101.27 bn by the end of December 2023, an increase of EGP 20.43bn.

In addition, Total assets surged by 19.89% during the first 6 months of the current year, reaching EGP 149.98bn by the end of June 2024, compared to EGP 125.10 bn by the end of December 2023, with an increase of EGP 24.88bn.

Total customer loans at the bank rose with a growth rate of 11.6% an increase of EGP 5.28bn during the first half of the current year, reaching EGP 50.76 bn by the end of March 2024, compared to EGP 45.49bn at the end of December 2023.