Cairo - Mubasher: Housing and Development Bank (HD Bank) seeks to boost its net profits by 15% in 2016, according to its estimated budget.
The lender targets net profits of EGP 569 million according to its estimated budget for 2016, up from EGP 360 million according to the estimated budget for 2015.
Meanwhile, the lender aims to raise its assets balance by 12.4% to reach EGP 30.9 billion in 2016, up from EGP 27.5 billion in 2015.
HD Bank also targets growth of 14.2% to EGP 13.4 billion in deposits in 2016, compared with EGP 11.74 billion in 2015.
The lender reported net profits of EGP 447.3 million for the first nine months of 2015, an increase of 35% from EGP 332 million a year earlier.
