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HD Bank logs EGP 651m in Q1 consolidated profits

HD Bank logs EGP 651m in Q1 consolidated profits
HD Bank achieved a 7.8% annual growth in interest revenues

Cairo – Mubasher: Housing and Development Bank (HD Bank) recorded a consolidated net profit after tax worth EGP 651.06 million during the first quarter (Q1) of 2021, higher by 7.6% than EGP 604.58 million in Q1-20.

HD Bank achieved a 7.8% annual growth in interest revenues at EGP 1.62 billion in Q1-21 from EGP 1.5 billion in Q1-20, according to a bourse filing of the unaudited financial results on Tuesday.

Earlier this month, the bank said its standalone net profits totalled EGP 620 million in the first three months of 2021, up from EGP 614.5 million in Q1-20.

The financial institution had registered net profits of EGP 2.06 billion in 2020, down from EGP 2.22 billion a year earlier.