Housing Bank reports net profits of EGP1.42 bln in 9M

Housing and Development Bank (HDB) has has seen standalone net profit of 1.42 billion Egyptian pounds in the first nine months of 2020, down by 6 percent year-on-year (YoY) from 1.52 billion pounds.

However, the lender logged an increase in its profits before tax and interest to register 1.913 billion Egyptian pounds in the first 9 month of 2020, up from 1.875 billion pound a year earlier.

The bank’s interest income slid to 4.3 billion pounds in the January-September period from  4.88 billion pounds in the same period in 2019.

The bank deposits has increased to reach 45.232 billion pounds by the end of September 2020, compared to 41.28 billion pounds in the same period a year ealier.