Cairo – Mubasher: Housing and Development Bank (HDB) reported a slight drop in its non-consolidated profits during the first quarter of 2019.

Net profits amounted to EGP 612.15 million in the January-March period of 2019 from EGP 612.91 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

The lender’s net income from interest registered EGP 720.38 million in the three-month period ended 31 March, compared to EGP 949.74 million in the same period a year earlier.

For the full-year 2018, HDB logged a standalone profit of EGP 1.6 billion, compared to EGP 1.07 billion in the previous year.

Interest revenues leapt to EGP 6.1 billion last year from EGP 4.6 billion in 2017.