Egypt’s Housing and Development Bank to open 9 branches

Egyptian-based Housing and Development Bank (HDBK) board of directors approved opening of nine new branches in seven governorates.

The bank’s BoD was convened on February 14, 2016.

The nine new branches will be opened in Opera, Shoubra, 6th of October, Shbein Alkoum, South Sinai, Suez, Portrait El Sokhna Village, Mansoura and New Beni Suef.

Furthermore, the bank has approved opening 3 new branches last month accordingly its branches rose to 69.

Moreover, The bank aims to achieve a net profit of 569 million Egyptian pounds by the end of 2016 to register an increase of 15 percent compared to the target net profit of 2015.