Cairo – Mubasher: The consolidated net profits after tax of Housing and Development Bank (HD Bank) hit EGP 1.33 billion in the first quarter (Q1) of 2023, an annual surge from EGP 628.05 million, including minority interest.
Net interest income soared to EGP 2.03 billion in Q1-23 from EGP 967.49 million in Q1-22, according to the financial results.
The earnings per share (EPS) reached EGP 2.50 during the first three months (3M) of 2023, higher than EGP 1.18 in the year-ago period.
In Q1-23, the total assets enlarged to EGP 121.30 billion from EGP 107.87 billion as of 31 December 2022, whereas the customers' deposits jumped to EGP 96.17 billion from EGP 89.35 billion.
Standalone Business
HD Bank logged standalone net profits after tax amounting to EGP 1.32 billion in Q1-23, marking a year-on-year (YoY) leap from EGP 640.28 million.
Non-consolidated interest income widened to EGP 2.03 billion in 3M-23 from EGP 968.57 million in 3M-22, while the EPS grew to EGP 2.23 from EGP 1.08.
Total standalone assets climbed to EGP 116.27 billion as of 31 March 2023 from EGP 103.63 billion as of 31 December 2022, while the customers' deposits hiked to EGP 96.39 billion from EGP 89.48 billion.
Last year, the EGX-listed lender registered consolidated net profits after tax valued at EGP 2.72 billion, up 34.42% from EGP 2.02 billion in 2021.
