Housing and Development Bank’s retail loans portfolio grew to LE 2.5 billion last May, compared to LE 2.1 billion, a 20 percent increase, reported Al-Mal.

 

HDB deputy chairman, Essam Abo Hamed, said that diversity in HDB services and products and particularly its specialized products contributed in increasing growth rates in retail services.

He noted that mortgage loans jumped to LE 700 million, according to Al-Mal.

Abo Hamed said that HDB marketing sector is considering launching new banking product as a part of private banking packages. He noted that engineering consultation services provided by the bank achieved success and encouraged the bank to launch new private banking product.

In May, the bank’s deposits surged to LE 6.6 billion with 24 percent raise against the same comparable period.