HD Bank tops listed Banks in Return on Shareholder's Equity

Housing and Development Bank achieved a strong and exceptional performance during this year, pushing it to top the list of Egyptian listed banks in ROE during the first half of 2024, continuing to maintain its position, as it topped the same list but for the first half of 2023.

The rate of HD Bank’s Return on average Shareholder's Equity rose to 30.77% in the first half of 2024, compared to 26.73% during the same period from 2023, reflecting the strong and growing ability of the Bank to invest its average Shareholder's Equity in achieving record levels of net profits.

The jump in profits achieved by the Bank was a key factor in the Bank's leading this list, with net profits jumping by 71.08%, to EGP 5.2 bn during the first half of 2024, compared to EGP 3 bn during the same period in 2023, representing an increase of EGP 2.1 bn.

HD Bank has achieved a strong performance during this year, with its asset portfolio rising by about 19.89% during the first six months of this year, to reach EGP 150 bn by the end of June 2024, compared to EGP 125.1 bn by the end of 2023, with an increase of EGP 24.9 bn.

Total customer loans jumped to EGP 50.8 bn by the first half of 2024, compared to EGP 45.5 bn by the end of 2023, with growth of 11.60% and an increase of EGP 5.3 bn.

Customer deposit portfolio rose to EGP 121.7 bn by the end of the first half of 2024, compared to EGP 101.3 bn by the end of 2023, with a growth of 20.2% and an increase of EGP 20.4 bn.

Net interest income rose to Pound 8.2 bn during the first half of 2024, compared to Pound 4.5 bn during the same period in 2023, with a growth of 81.30% and an increase of Pound 3.7 bn

Net fees and commissions income increased by 26.85%, to Pound 418.3 mn in the first half of 2024, compared to Pound 329.7 mn in the same period from 2023.

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