HD Bank posts 26.4% YoY consolidated profit hike in 9 months
Updated 11/24/2022 10:21:00 AM
Arab Finance: Housing and Development Bank (HD Bank) (HDBK) logged a 26.4% year-on-year (YoY) increase in consolidated profit after tax during the first nine months of 2022, according to the financial indicators filed to the Egyptian Exchange (EGX) on November 24th.
The company’s consolidated net profit after tax jumped to EGP 1.999 billion in January-September from EGP 1.582 billion in the nine-month period of 2021.
Interest income soared to EGP 7.053 billion in the nine months to September 30th from EGP 5.09 billion in the same period a year earlier.
It is worth noting that the company’s standalone net profit rose to EGP 1.753 billion in January-September from EGP 1.434 billion in the comparative period of 2021.
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.
