Egypt’s Housing and Development Bank (HDB) posts consolidated profits of EGP 556.8 mn in Q1 of 2017, up 203% y-o-y from EGP 183.7 mn, Invest-Gate reports.

The bank’s income from housing projects also increases to EGP 157.6 mn in Q1 of 2017 from EGP 107.6 mn a year ago, according to a bourse statement.

Revenues generated from loans reach EGP 902 mn compared to EGP 492.4 mn in the same period the prior year.

On a standalone basis, net profits rise to EGP 349.4 mn from EGP 218.1 mn a year earlier.