Cairo – Mubasher: Housing and Development Bank (HD Bank) logged net income after tax valued at EGP 4.75 billion in the first nine months (9M) of 2023, marking a 137.60% leap from EGP 1.99 billion in 9M-22.

Net interest income hiked by 70.70% year-on-year (YoY) to EGP 12.03 billion in January-September 2023 from EGP 7.05 billion, according to the financial results.

The basic earnings per share (EPS) amounted to EGP 8.91 as of 30 September 2023, an annual jump of 138.20% from EGP 3.74.

Total deposits increased by 6.80% to EGP 95.41 billion in 9M-23 from EGP 89.35 billion as of 31 December 2022.

Standalone Income Results

In the nine-month period that ended on 30 September 2023, HD Bank recorded 152.10% YoY higher standalone net income at EGP 4.41 billion, versus EGP 1.75 billion.

The net interest income climbed by 70.60% to EGP 12.05 billion in 9M-23 from EGP 7.06 billion a year earlier, while the EPS surged by 153.40% to EGP 7.45 from EGP 2.94.

During the first half (H1) of 2023, the EGX-listed lender posted a 151.90% YoY hike in consolidated net profit after tax to EGP 3.28 billion, compared to EGP 1.30 billion.