Arab Finance: Housing and Development Bank (HDB) reported a 23.3% year-on-year (YoY) increase in net standalone profits during 2022, hitting EGP 2.257 billion from EGP 1.83 billion, according to an emailed earning release on March 1^st.

Standalone revenues were up 38.1% YoY, totaling EGP 6.281 billion last year.

Net customer loans climbed 43% YoY in 2022 to EGP 35.215 billion, driven by robust growth across all customer segments.

Meanwhile, deposits saw an increase of 42% YoY, reaching EGP 89.485 billion.

As per the bank’s consolidated financial statement, net profits after tax hit EGP 2.725 billion last year, up from EGP 2.028 billion in 2021.

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