HD Bank’s retail deposits portfolio jumps 16.27% during H1-2024, recording EGP 53.625 bn

The separate financial statements of the Housing and Development Bank revealed that its portfolio of retail deposits rose by 16.27% during the first half of this year, reaching EGP 53.625 bn by the end of June 2024, compared to EGP 46.12 bn by the end of 2023, with an increase of EGP 7.505 bn.

This growth reflects the Bank's trend to enhance the attractiveness of its savings products and attract more customers, given the intense competition in the banking sector. It is clear that the Bank is benefiting from the growing trust of its customers and is working to enhance its position in the market by providing innovative and appropriate banking services for the needs of individuals.

The 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, 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. For more information about HD Bank and its highlights, click here