Sunday 23 Feb
Housing and Development Bank's consolidated financial results revealed a 90% year-on-year profit increase last year.
In a statement to the Egyptian Stock Exchange today, the Housing and Development Bank announced its 2024 financial results, revealing significant growth. The bank reported a net profit of 12.45 billion Egyptian pounds for the full year, a substantial increase from the 6.56 billion pounds recorded in 2023. Interest income also saw a notable rise, reaching 29.011 billion pounds by the end of 2024, compared to 17.01 billion pounds in the previous year.
On an independent basis, the bank's net profit for 2024 was
11.03 billion pounds, up from 6.03 billion pounds in 2023.
Looking at the first nine months of 2024, the Housing and
Development Bank demonstrated consistent growth. From January to September, the
bank achieved a net profit of 9.4 billion pounds, compared to 4.75 billion
pounds in the same period of 2023. Interest income for this period increased to
20.48 billion pounds, up from 12.03 billion pounds in the corresponding period
of 2023.
The bank's independent profits for the first nine months of 2024 were 8.27 billion pounds, compared to 4.41 billion pounds in the same period of the previous year.
