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HD Bank’s earnings jump 30% in H1-22

HD Bank’s earnings jump 30% in H1-22
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Housing & Development Bank
HDBK
-0.44% 47.94 -0.21

Cairo – Mubasher: Housing and Development Bank (HD Bank) reported higher consolidated net profits by 29.9% annually in the first half (H1) of 2022 to EGP 1.30 billion, compared to EGP 1 billion, including minority shareholders’ rights.

Basic earnings per share (EPS) stood at EGP 8.53 in H1-22, compared to EGP 6.57 in H1-21, according to a stock exchange statement on Monday.

Interest income rose to EGP 4.37 billion in the six-month period ended 30 June 2022, a jump of 32.1% when compared to EGP 3.31 billion in the year-ago period.

As for the standalone business, the EGX-listed lender posted EGP 1.20 billion in net profits in H1-22, up 20.30% from EGP 1.00 billion in H1-21.

It is noteworthy to mention that in the first quarter (Q1) of 2022, HD Bank’s consolidated net profits retreated by 3.50% yearly to EGP 628.05 million, compared to EGP 651.06 million.