Cairo – Mubasher: Housing and Development Bank (HDB) on Tuesday reported a 13% year-on-year growth in consolidated profits for the first quarter of 2018, recording EGP 630.8 million from EGP 556.8 million, including minority shareholders’ rights.
Net income from revenue climbed to EGP 972.9 million in Q1-18, from EGP 551.5 million in the prior-year period, the Egyptian bank said in a filing to the Egyptian Exchange (EGX).
The Egyptian lender had previously posted a 75% year-on-year growth in standalone profits for Q1-18, recording EGP 611 million from EGP 349 million.
The bank had achieved a net profit of EGP 1.31 billion in the full-year ended December 2017, versus EGP 754.8 million a year earlier, including minority shareholders’ minority.
HDB’s capital amounts to EGP 1.26 billion distributed over 126 million shares at a par value of EGP 10 per share.
