HD Bank tops banks in focusing on Retail loans by June 2024-End

Housing and Development Bank leads the First Bank list of banks in focusing on Retail loans during the first half of this year, where loans for the retail banking sector accounted for about 52.44% of its total customer loans by the end of June 2024

The Bank continued to maintain its position, also topped the First Bank list of banks in focusing on retail loans at the end of 2023.

The Bank has a relatively large portfolio of retail loans, reaching EGP 26.6 bn by the end of June 2024, compared to EGP 24.9 bn by the end of 2023, with a growth of 6.83% and an increase of EGP 1.7 bn.

It is noteworthy that HD Bank, despite its significant focus on the retail banking sector, does not lose sight of corporate loans as it continues to make remarkable progress, as evidenced by the continued growth of its portfolio of corporate loans.

The Bank's corporate loans jumped by 17.38% during the first half of this year, reaching EGP 24.1 bn by the end of June 2024, compared to EGP 20.6 bn by the end of 2023, with an increase of EGP 3.6 bn. 

The Construction and Housing 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 deposits 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 profits jumped 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.

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

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

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