Arab Finance: Housing and Development Bank (HD Bank) (HDBK) posted a 138.4% year-on-year (YoY) hike in consolidated net profit after minority interest during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on November 16th.

The company’s standalone net profit rose to EGP 4.736 billion in January-September from EGP 1.986 billion in the comparative period of 2022.

Interest income surged to EGP 7.293 billion in the nine months to September 30th from EGP 3.404 billion in the nine-month period of 2022.

The lender garnered EGP 4.419 billion in standalone net profits after tax, up from EGP 1.752 billion.

HD Bank is an Egypt-based commercial and investment bank that operates in the housing and development sector. HD Bank also contributes to alleviating the housing problem through the establishment of an integrated group of housing projects across Egypt.

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