Cairo – Mubasher: Housing and Development Bank's profits for the first half of 2016 increased 22.6% year-over-year to EGP 395 million from EGP 322 million, according to a statement issued on Tuesday.
The housing activity registered EGP 145.9 million in the first six-month period, higher 46.4% from EGP 99.6 million for the prior-year period.
Net income stood at EGP 638.5 million in the first half with a rise of 60.5% as compared to the first half of 2015.
Loans' yields and similar revenues moved up 44.3% to EGP 1.1 billion, the bank's assets also went up to EGP 36.2 billion.
Deposits were higher 13% to level at EGP 12.1 billion in the first half.
Loan's portfolio annually grew 15.5% to EGP 8.7 billion in the first half after the bank hiked granted facilities 100% year-over-year to EGP 1.3 billion from EGP 648 million, the statement revealed.
