Egypt's HD Bank’s consolidated profit grows 140.6% YoY in 2023

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HD Bank is an Egypt-based commercial and investment bank

Staff Writer, Arab Finance

February 29, 2024

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Housing and Development Bank (HD Bank) (HDBK) posted a 140.6% year-on-year (YoY) hike in consolidated net profit after tax in 2023, according to financial statements filed to the Egyptian Exchange (EGX) on February 28th.

The company’s net profit rose to EGP 6.560 billion in January-December from EGP 2.726 billion in 2022.

Interest income surged to EGP 17.015 billion in the 12 months to December 31st from EGP 10.025 billion in 2022.

The lender garnered EGP 6.031 billion in standalone net profits after tax, up from EGP 2.257 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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