Arab Finance: Housing and Development Bank (HD Bank) (HDBK) reported a 29.9% year-on-year (YoY) increase in consolidated net profit after tax for the first half (H1) of 2022, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on August 16th.

Consolidated net profit after tax amounted to EGP 1.304 billion in H1 2022, compared to EGP 1.004 billion in H1 2021.

Meanwhile, the bank’s standalone net profit after tax rose by 20.3% YoY to EGP 1.204 billion in the January-June period from EGP 1.001 billion.

HD Bank is an Egypt-based commercial and investment bank that operates in the housing and development sector. HD Bank also contributes to alleviating the housing problem through the establishment of an integrated group of housing projects across Egypt.