Cairo – Mubasher: The unaudited financial indicators of Housing and Development Bank (HDB) on Thursday showed a 67.7% year-on-year surge in standalone profits for 2017.

Net profit amounted to EGP 1.08 billion last year, versus EGP 644 million profits at the end of 2016, the bank said in a filing to the Egyptian Exchange (EGX).

Interest revenues doubled to EGP 4.7 billion in 2017 from EGP 2.74 billion a year earlier.

Given that the bank had achieved consolidated profits of EGP 1.02 billion in the nine months ended September 2017, compared to EGP 612.08 million in the same period of 2016.

By 11:25 am Cairo time, HDB’s stock rose 3.75% to EGP 52.50.