Egypt: positive return for Housing Bank (HDB)

Egypt’s Housing and Development Bank (HDB) reports net profit after taxes of 1.072 billion Egyptian pounds ($ 64.7 million) in the first half of 2019, an increase of 7.8%.

In a statement to this effect, the bank said the portfolio of loans and advances is estimated at 14.85 billion Egyptian pounds (896 million dollars), an increase of 9.2%. At the same time customer deposits reached 37.2 billion Egyptian pounds, or 2.2 billion dollars.

HDB’s total turnover is 2.07 billion Egyptian pounds ($ 124 million), compared to about 1.9 billion Egyptian pounds ($ 114 million), a growth of 8.7% over the same period. period of the previous year.

HDB notes that these results follow a series of procedures and mechanisms put in place by the bank, based on a strategy to meet customer needs through the development of competitive solutions and the establishment of new customer segments in line with the policy of the State and the Central Bank of Egypt, which aims to achieve higher growth rates.

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