Cairo – Misr Life Insurance Company raised its 8.29% shareholding in Housing and Development Bank (HD Bank) to 9%, according to a recent bourse disclosure.
The insurance firm bought 150,000 shares in the EGX-listed lender for EGP 3.16 million, at an average price of EGP 21.08 per share.
Notably, Commercial International Brokerage company (CIBC) was the broker for the transaction that was executed on 6 March 2023.
Last year, HD Bank registered consolidated net profits after tax worth EGP 2.72 billion, higher by 34.42% than EGP 2.02 billion in January-December 2021.
The interest income enlarged by 44% to EGP 10.02 billion in 2022 from EGP 6.96 billion in 2021, whereas the basic earnings per share (EPS) jumped by 34.60% to EGP 5.10 from EGP 3.79.
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