HD Bank’s consolidated profits jump 26% in 9M-22

The consolidated financial statements of the Housing and Development Bank (HD Bank) indicated a 26.40% growth in the bank’s net profits during the first nine months (9M) of 2022.

HD Bank generated EGP 1.99 billion in net profits during 9M-22, compared to EGP 1.58 billion in 9M-21, according to a bourse statement on Thursday.

Basic earnings per share (EPS) stood at EGP 13.09 during the nine-month period ended 30 September 2022, compared to EGP 10.36 in the corresponding period in 2021.

Interest income reached EGP 7.05 billion during the January-September 2022 period, a rise of 38.60% when compared to EGP 5.09 billion in the year-ago period.

Last week, the lender reported higher standalone net profits during 9M-22 by 22.20% to EGP 1.75 billion from EGP 1.43 billion in 9M-21

Noteworthy to mention, in the first half (H1) of 2022, HD Bank reported higher consolidated net profits by 29.9% annually to EGP 1.30 billion, compared to EGP 1 billion, including minority shareholders’ rights.