Cairo – Mubasher: Housing and Development Bank (HD Bank) logged consolidated net profits valued at EGP 9.40 billion in the first nine months (9M) of 2024, higher by 98.10% than EGP 4.74 billion in 9M-23.
Net interest income reached EGP 13.26 billion in 9M-24, an annual hike of 81.90% from EGP 7.29 billion, according to the financial results.
Earnings per share (EPS) hit EGP 17.67 as of 30 September 2024, up year-on-year (YoY) from EGP 8.91.
Total assets grew by 26.20% to EGP 164.98 billion in 9M-24 from EGP 130.74 billion as of 31 December 2023, while the customers’ deposits hiked by 24.80% to EGP 126.02 billion from EGP 101 billion.
Standalone Results
Non-consolidated net profit after tax of HD Bank stood at EGP 8.27 billion in the January-September 2024 period, marking a leap from EGP 4.41 billion in 9M-23.
The bank’s standalone net interest income enlarged to EGP 13.28 billion in 9M-24 from EGP 7.29 billion a year earlier, while the EPS climbed to EGP 13.94 from EGP 7.42.
As of 30 June 2024, the consolidated net profits after tax recorded EGP 5.97 billion, whereas the standalone net profits amounted to EGP 5.15 billion.
