Cairo – Mubasher: The Housing and Development Bank (HDB) posted a 51.8% year-on-year surge in profits for the first half of 2017 due to higher interest revenues, according to a bourse filing on Monday.
Net profits rose to EGP 599.2 million in H1-17 from EGP 394.7 million in H1-16.
Interest revenues increased to EGP 1.7 billion in the first six months of 2017, compared to EGP 1.13 million in H1-16.
The bank achieved profits of EGP 556.8 million in the three months ended March 2017, versus EGP 183.7 million in the same period last year, taking minority rights into consideration.
