Cairo – Mubasher: Housing and Development Bank (HDB) on Tuesday reported a 68% year-on-year hike in consolidated profits for the first nine months of 2017.
Net profit reached EGP 1.02 billion in the nine months ended September 2017, up from EGP 612.08 million in the year-ago period, the bank added in a filing to the Egyptian Exchange (EGX).
Net income increased to EGP 1.4 billion in the nine-month period of 2017 from EGP 1.22 billion in the same period last year.
Standalone profits amounted to EGP 888 million in the nine-month period, compared to EGP 555 million in the corresponding period of 2016.
HDB’s consolidated profits climbed 100.7% in the first half of 2017 to EGP 815.9 million from EGP 406.44 million in H1-16.
