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HD Bank’s consolidated net profits down 4.5% in 9M

HD Bank’s consolidated net profits down 4.5% in 9M
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Housing & Development Bank
HDBK
-0.88% 35.01 -0.31

Cairo – Mubasher: The initial financial results of the Housing and Development Bank (HD Bank) showed a 4.5% decrease in net profits after tax at EGP 1.58 billion during the first nine months (9M) of 2021 from EGP 1.65 billion in 9M-20.

Earnings per share shrank by 13.1% to EGP 11.31 at the end of September 2021, compared to EGP 13.01 in the same period a year ago, according to a bourse filing on Tuesday.

HD Bank’s interest income increased by 17.8% year-on-year (YoY) to EGP 5.09 billion in 9M-21 from EGP 4.32 billion.

Clients’ deposits also grew by 19.6% YoY to EGP 56.17 billion in January-September 2021 from EGP 46.98 billion.

As for the standalone income statements, the Egyptian lender achieved net profits worth EGP 1.43 billion in 9M-21, up from EGP 1.42 billion in January-September 2020.