Cairo – Mubasher: Pharos Research has set the fair value (FV) of Housing and Development Bank (HDB) at EGP 70.48 per share, with an overweight recommendation.

The price of HBD’s stock will be affected by the bank’s commercial and real estate activities, Pharos said.

HDB reported a 7.8% increase in its standalone profits during the first half of 2019, recording EGP 1.072 billion.