HD Bank’s financial efficiency indicators evolution during H1- 2024
First Bank
HD Bank has achieved progress in its financial efficiency indicators during the first half of the current year, The following analysis highlights bank's development in financial efficiency indicators during H1-2024.
The separate financial statements of HD Bank, ending on June 30 2024, revealed that the bank achieved an increase in return on average equity (ROE) of 30.77% during the first half of 2024, compared to 26.73% during the same period of 2023.
The return on average assets (ROA) of the bank reaching 3.75% during the first 3 months of the current year, compared to 2.81% during H1 2023.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 71.08%, reaching EGP 5.158bn during H1- 2024, compared to EGP 3.015bn during the same period in 2023, an increase of EGP 2.143bn.
In terms of earnings per share, the bank recorded a growth rate of 71.74% during the first 6 months of 2024, with the bank's share of net profits reaching about EGP 8.69per share during H1- 2024, compared to EGP 5.06 during H1- 2023.
It is worth mentioning that the bank achieved a growth of 19.89% in its asset portfolio an increase of EGP 24.88bn during the first half of the current year, as it increased from EGP 125.10bn at the end of December 2023 to EGP 150bn at the end of June 2024.
The bank's Equity portfolio also surged by 18.34% during the first half of the current year, reaching EGP 18.17 bn at the end of June 2024, compared to EGP 15.36 bn at the end of December 2023, an increase of EGP2.82bn.
