HD Bank sees 90% YoY higher profits in 2024
Updated 2/20/2025 10:12:00 AM
Arab Finance: Housing and Development Bank (HD Bank) generated 89.9% year-on-year (YoY) higher consolidated net profits after tax at EGP 12.454 billion in 2024, versus EGP 6.560 billion, as per the income results.
Basic earnings per share (EPS) hiked by 90% to EGP 23.39 at the end of December 2024 from EGP 12.31 a year earlier.
Meanwhile, the net interest income soared by 70.5% to EGP 29.012 billion from EGP 17.015 billion.
As for the standalone business, the net income after tax surged by 83.1% YoY to EGP 11.040 billion in 2024 from EGP 6.031 billion.
Non-consolidated interest income widened by 70.4% to EGP 29.039 billion from EGP 17.043 billion.
In the January-September period of 2024, the lender’s consolidated net profit after minority interest jumped by 98.1% to EGP 9.409 billion from EGP 4.750 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.
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