Cairo – Mubasher: The consolidated net profits after tax of Housing and Development Bank (HD Bank) increased to EGP 2.80 billion in the first quarter (Q1) of 2024 from EGP 1.33 billion in Q1-23.
Net interest income widened to EGP 3.71 billion in January-March 2024 from EGP 2.03 billion in Q1-23, while the basic earnings per share (EPS) increased to EGP 5.27 from EGP 2.50.
Total assets enlarged to EGP 139.51 billion in Q1-24 from EGP 130.74 billion as of 31 December 2023, according to the consolidated financials. The customer deposits grew to EGP 106.34 billion from EGP 101 billion.
Standalone Income Results
In the first three months (3M) of 2024, HD Bank posted higher standalone net profits after tax at EGP 2.42 billion, compared to EGP 1.32 billion in Q1-23.
Non-consolidated EPS climbed to EGP 4.09 in Q1-24 from EGP 2.22 during the same period in 2023.
During the 12-month period that ended on 31 December 2023, the EGX-listed lender recorded 140.60% higher consolidated income after tax at EGP 6.56 billion, compared to EGP 2.72 billion in 2022.
