Cairo – Mubasher: The standalone financial statements of Housing and Development Bank (HDB) showed net profits of EGP 1 billion in the first half (H1) of 2020, down by 6.7% from EGP 1.072 billion in the year-ago period.

The lender’s interest income retreated to EGP 2.88 billion in the six-month period ended on 30 June from EGP 3.24 billion in the corresponding period a year earlier, according to a bourse disclosure on Thursday.

Meanwhile, the bank’s loan portfolio rose by 6.1% to EGP 16.63 billion in H1-20 from EGP 15.68 billion in H1-19.

The consolidated financial statements for the first quarter (Q1) of the year showed net profits of EGP 605 million, slightly up from EGP 603 million in the year-ago period.