Housing and Development Bank (HD Bank) posted consolidated net profits after tax amounting to EGP 5.97 billion in the first half (H1) of 2024, versus EGP 3.28 billion in H1-23.

Net interest income reached EGP 8.21 billion in H1-24, up year-on-year (YoY) from EGP 4.53 billion, according to the consolidated financial statements.

During the first six months (6M) of 2024, the basic earnings per share (EPS) grew to EGP 11.21 from EGP 6.16 in H1-23.

Total assets hiked to EGP 158.04 billion at the end of June 2024 from EGP 130.74 billion as of 31 December 2023.

Standalone Results

The standalone net profit after tax increased to EGP 5.15 billion in H1-24 from EGP 3.01 billion, while the EPS jumped to EGP 8.69 from EGP 5.06.

Results for Q2

The lender achieved consolidated profits valued at EGP 3.16 billion in the second quarter (Q2) of 2024, up from EGP 1.95 billion in Q2-23.

The bank’s net interest income widened to EGP 4.49 billion in Q2-24 from EGP 2.49 billion a year earlier.

Meanwhile, the standalone profits hiked YoY to EGP 2.73 billion in April-June 2024 from EGP 1.69 billion.

As of 31 March 2024, HD Bank recorded consolidated net profits after tax valued at EGP 2.80 billion, compared to EGP 1.33 billion in Q1-23.

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