Housing & Development Bank’s Consolidated Net Profit Rose 149.8% In 2012

The Housing and Development Bank’s consolidated net profit rose 149.8% (EGP 232.1 million) to reach EGP 378 million at the end of 2012, compared to EGP 154.9 million at the end of 2011.

The bank’s consolidated financial statements showed that its investments in treasury bills surged 14.8% (EGP 330.9 million) to reach EGP 2.5 billion at the end of 2012, compared to EGP 2.2 billion at the end of 2011.

The bank’s portfolio of loans and credit facilities fell 13.3% (EGP 858.4 million) to reach EGP 5.5 billion at the end of last year, compared to EGP 6.4 billion at the end of 2011.

The bank’s deposit portfolio reached EGP 8.1 billion at the end of 2012, compared to EGP 7.5 billion at the end of 2011, registering an increase of 7.5% (EGP 570.4 million).

The bank’s financial statements also revealed that the value of the bank’s assets dropped 0.29% (EGP 66.3 million) to reach EGP 22.1 billion at the end of 2012, compared to EGP 22.2 billion at the end of 2011.

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