Egypt’s Housing Bank’s corporates loans grew 33.6% in 9M-22

Housing and Development Bank said that its corporates loans portfolio grew by 33.65 % during the first 9 months of 2022 with an increase of 6.95 billion pounds, according to its independent financial results.

The bank’s total corporates loans portfolio rose to EGP 14.02 billion at the end of September 2022, in comparison to EGP 10.45billion at the end of December 2021, thus acquiring 40.89% of the bank’s total loans portfolio.

Moreover, the bank’s current accounts portfolio grew by 38.8% during the first 9 months of 2022, to reach EGP 6.87 billion at the end of September 2022, compared to 4.95 billion at the end of December 2021, with an increase of EGP 1.92 billion.

In addition, HDB’s total direct loan portfolio jumped by 24.22% during the first 9 months of this year, to reach EGP 5.28 billion at the end of September 2022, compared to 4.25billion at the end of December 2021.

However, the bank’s total syndicated loan portfolio increased by 44.8% during the first 9 months of 2022, to reach EGP 1.87 billion at the end of September 2022, compared to 1.29 billion at the end of December 2021.

Furthermore, its total customer loans and facilities increased by 27.27%, an increase of about 7.3 billion pounds, bringing the total portfolio to 34.2 billion pounds at the end of September 2022, compared to 26.9 billion at the end of December 2021.