HDB logs consolidated profit in 9 months

Net profits increased

Cairo – Mubasher: The consolidated financial statements of Housing and Development Bank (HDB) showed an 8% year-on-year profit growth during the first nine months of 2019.

Net profits increased to EGP 1.71 billion during the January-September period, compared to EGP 1.58 billion in the year-ago period, the lender said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The bank’s net interest income rose to EGP 230.58 million in the nine-month period ended 30 September from EGP 205.24 million in the corresponding period of 2018.

It is noteworthy that during the first half of 2019, the bank logged a net profit of EGP 1.12 billion, compared to EGP 1.07 billion in H1-18.

Source: Mubasher

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