Housing and Development Bank (HD Bank) generated 151.90% higher consolidated net profits after tax at EGP 3.28 billion in the first half (H1) of 2023, versus EGP 1.30 billion a year earlier.

Basic earnings per share (EPS) hiked by 152.50% year-on-year (YoY) to EGP 6.16 in H1-23 from EGP 2.44, according to the consolidated financial results.

In the first six months (6M) of 2023, the lender posted net interest income amounting to EGP 7.56 billion, an annual leap of 72.80% from EGP 4.37 billion.

Standalone Business

The bank achieved standalone net profits after tax valued at EGP 3.01 billion in H1-23, higher by 150.40% than EGP 1.20 billion in H1-22.

Non-consolidated net interest income climbed by 72.80% YoY to EGP 7.58 billion as of 30 June 2023 from EGP 4.38 billion, while the basic EPS jumped by 151.50% YoY to EGP 5.08 from EGP 2.02.

During the first quarter (Q1) of 2023, HD Bank registered consolidated net profits after tax worth EGP 1.33 billion, a leap from EGP 628.05 million in Q1-22, including minority interest.

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