HDB named among top 100 best-performing companies on Egypt's EGX in 2024
This recognition underscores HDB's sustained success and consistent upward trajectory, as it continues to deliver strong financial results and operational resilience. In 2024, the bank recorded significant growth across all key performance indicators, in accordance with the summit's evaluation criteria, which include market capitalisation, total returns, revenue and profit development, operational performance, and other financial metrics that demonstrate long-term sustainability and robust growth.
HDB's success in 2024 was driven by its focus on enhancing the efficiency of operational processes and proactively managing financing costs. By adopting a flexible and innovative business model, the bank effectively seized emerging opportunities and optimised resource utilisation to maximise profitability on a sustainable basis.
This strategic direction translated into notable improvements in financial performance. Net interest income increased by 67.6% to reach EGP 20.5bn, while total assets grew by 43.4%, reaching EGP 179.5bn.
Most notably, the bank succeeded in boosting its net profits to EGP 11bn in 2024, reflecting an impressive 83.1% year-on-year growth. These results reaffirm the successful implementation of the bank's five-year strategy and its continued consolidation as one of Egypt's leading full-service commercial banks.
The award was received by Hassan Ghanem, CEO and Managing Director of HDB, who expressed pride in the bank's continued growth and recognition in 2024. He emphasised that the performance reflects the bank's strong financial foundation and its consistent, confident approach to sustainable development.
Ghanem affirmed the bank's commitment to capitalising on promising opportunities and delivering strong financial and operational results in the coming period. He highlighted the launch of HDB's new 2025–2030 strategy, designed to maintain the bank's leadership in the banking sector and enhance its resilience in a constantly evolving economic environment.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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