Housing & Development Bank’s 9-Month Consolidated Profit 112% Up

The Housing and Development Bank (HDB)’s consolidated results for the first nine months of 2012 showed that the bank’s profit rose by 112% to reach EGP 246.8 million at the end of last September, up from EGP 116.3 million.

The bank’s portfolio of loans and credit facilities dropped by EGP 710 million (11%), registering EGP 5.717 billion at the end of last September, compared to EGP 6.428 billion at the end of 2011.

The bank’s deposit portfolio rose by EGP 151 million (2%), registering EGP 7.692 billion at the end of last September, compared to EGP 7.541 billion at the end of the last year.

The bank’s investments in T-bills and other government debt instruments surged by EGP 166 million (7.5%), registering EGP 2.392 billion at the end of Q3 of 2012, up from EGP 2.226 billion at the end of 2011.