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HD Bank's profits down 3.5% in Q1-22 unaudited financials

HD Bank's profits down 3.5% in Q1-22 unaudited financials
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Housing & Development Bank
HDBK
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Cairo – Mubasher: The consolidated net profits of Housing and Development Bank (HD Bank) retreated by 3.5% to EGP 628.05 million in the first quarter (Q1) of 2022, compared to EGP 651.06 million in the same quarter of 2021, according to the bank's unaudited interim financials.

The bank's interest income jumped to EGP 2.03 billion in the January-March period of 2022 from EGP 1.62 billion in the year-ago period.

As for the standalone businesses, the bank's net profits increased by 3.2% to EGP 640 million in Q1-22 from EGP 620 million in the corresponding period of the earlier year.

It is noteworthy to mention that in 2021, HD Bank achieved consolidated net profits worth EGP 2.02 billion, compared to EGP 2.06 billion in 2020, including minority interest.