SNG: Egypt: Housing and Development Bank’s consolidated profits rise 76.6% YoY in Q1 2025

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Staff WriterArab Finance: Housing and Development Bank (HDB) reported a 76.6% year-on-year (YoY) increase in consolidated net profits after tax in the first quarter (Q1) of 2025, hitting EGP 4.959 billion, compared to EGP 2.808 billion, as per the bank’s financial indicators.Net interest income climbed 77.6% YoY during the January-March period of this year, hitting EGP 9.903 billion, versus EGP 5.577 billion in the first three months of 2024.Loans rose 5.2% YoY to EGP 58.239 billion in Q1 2025 from EGP 55.386 billion.Customers’ deposits saw a 6.9% yearly decrease during the three-month period to EGP 134.793 billion from EGP 144.744 billion during the same period a year ago.As per the bank’s standalone financial statement, net profits after tax soared 98.7% YoY to EGP 4.821 billion in Q1 2025, up from EGP 2.426 billion in Q1 2024.Established in 1979, Housing and Development Bank is an Egyptian joint stock company, operating across the governorates of Egypt through more than 100 branches and 400 ATMs. The bank provides banking, housing, and real estate services.© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

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