The total assets of the Housing and Development Bank increased to EGP 156.3 billion by the end of the third quarter of 2024, compared to EGP 125.1 billion by the end of 2023, an increase of EGP 31.2 billion and a growth rate of 25% during the financial period ending September 30, 2024.

This is due to the growth of the bank's loan portfolio through the retail and corporate sectors, as total loans amounted to EGP 53.7 billion, with a growth rate of 18% during the first nine months of 2024, driven by the growth of the corporate and institutional loan portfolio to EGP 26.5 billion, an increase of EGP 5.9 billion and a growth rate of 29%.

Hassan Ghanem, CEO and Managing Director of the Housing and Development Bank, confirmed the bank's continued development and strengthening its leading position in the Egyptian banking market, which contributed to reaping the fruits and achieving sustainable growth for its own assets.

The retail banking loan portfolio recorded EGP 27.2 billion, an increase of EGP 2.3 billion and a growth rate of 9.3%, with a reduction in the percentage of non-performing loans to reach 6.7% by the end of the financial period ending on September 30, 2024, compared to 6.9% at the close of 2023. This reflects the bank's commitment and keenness to continue increasing the volume of its financing while maintaining the quality standards of the financing portfolio and ensuring the diversification of financing from different sectors to ensure its sustainable growth, with the coverage rate increasing to reach 130.7% on September 30, 2024, compared to 114% in 2023.