Cairo – Mubasher: Housing and Development Bank (HDB) on Tuesday announced it aims an annual profit growth of 25% or EGP 400 million in 2019.

The bank is looking to log around EGP 2 billion in net profit by the end of this year, according to a statement to the Egyptian Exchange (EGX).

The EGX-listed lender is planning to raise asset credit by 16.7% in 2019 and increase clients’ deposits by 26.3%, the statement added.

HDB is also seeking to boost its loans portfolio by 17.85 this year, according to the statement.

Earlier his day, HDB reported a 51% year-on-year surge in standalone profits for 2018.

Net profit amounted to EGP 1.6 billion last year, compared to EGP 1.07 billion in 2017, the lender said in a filing to the Egyptian Exchange (EGX)

Interest income jumped to EGP 6.1 billion in 2018 from EGP 4.6 billion a year earlier, the lender added.