Housing and Development Bank (HDB) reported a 7.8% increase in its standalone profits during the first half of 2019.
Net profits amounted to EGP 1.072 billion in the six-month period ended 30 June, compared to EGP 994 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
The bank’s deposit portfolio rose by 9.1% year-on-year to EGP 37.22 billion in the January-June period of 2019 from EGP 34.122 billion.
HDB’s loan portfolio also grew by 6.1% to EGP 16.63 billion in H1-19, compared to EGP 15.68 billion in H1-18.
During the first quarter of 2019, HDB logged a profit of EGP 612.15 million, compared to EGP 612.91 million in the year-ago period.
The bank’s net interest income retreated to EGP 720.38 million in Q1-19 from EGP 949.74 million in Q1-18.