Egypt’s Housing Bank customers’ deposits grow by 38.9% in 9M-22

Housing and Development Bank announced that its deposits has jumped 38.71% adding EGP24.35 billion to its portfolio during the first 9 months, according to separate financial statements.

Total customers deposits portfolio increased to 87.25 billion pounds at the end of September 2022, compared to 62.90 billion pounds at the end of December 2021.

Moreover, corporates deposits jumped by 75.79% during 9M-22 to record EGP 59.64 billion at the end of September 2022, compared to EGP 33.9 billion at the end of December 2022 accounting for 68.36% of total customer deposits.

Furthermore, personal deposits also increased by 23.05%  increasing from EGP 22.43 billion at the end of December 2021 to reach EGP 27.60 billion at the end of September 2022 obtaining 31.64% of the total customer deposits.

The growth in the total customers’ deposits portfolio was due to an increase in the bank’s corporates deposits portfolio by 19.2 billion pounds during 9M-22 while the personal deposits increased by 27.6 billion by the end of the same period.

In addition, the demand deposits portfolio increase by 60.79% to stand at EGP 50.65 billion at the end of September 2022, compared to EGP 31.50 billion at the end of December 2021.

However, the term deposits portfolio increased by 5.26% during the first 9 months of this year, to move from 13.17 billion pounds at the end of December 2021, and record 12.51 billion at the end of September 2022.

The saving certificates portfolio increased by 16.36% during the first 9 months of this year, to record 9.91 billion pounds at the end of September 2022, compared to 8.52 billion pounds at the end of December 2021.

Furthermore, savings deposits portfolio recorded a growth rate of 1.75%, after it rose to 7.58 billion pounds at the end of September 2022, compared to 7.45 billion at the end of December 2021, in addition to a growth in other deposits at a rate of 103.18% during the same period.