HDB Posts H1 Profits of EGP 599.2 mn

HDB Posts H1 Profits of EGP 599.2 mn

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.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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