Egypt’s Housing and Development Bank (HDB) posts a rise in its standalone profits during the first half of 2017, Invest-Gate reports.

Standalone profits grew 51.8% y-o-y to EGP 599.2 mn in H1 of 2017 from EGP 394.7 mn in the same period a year earlier, according to the company’s bourse statement.

The H1 of 2017 profit increase is mainly attributed to a rise in net interest income to EGP 904.73 mn during that period compared to EGP 638.45 mn in the previous-year period.

The bank achieved profits of EGP 556.8 mn in the first quarter of 2017, compared to EGP 183.7 mn in the same period of 2016.