Cairo – Mubasher: Housing and Development Bank (HD Bank) generated EGP 2.72 billion in consolidated net profits after tax in 2022, higher by 34.42% year-on-year (YoY) than EGP 2.02 billion.
HD Bank reported interest income worth EGP 10.02 billion in the January-December 2022 period, an annual surge of 44% from EGP 6.96 billion, according to the unaudited financial results.
The basic earnings per share (EPS) stood at EGP 5.10 last year, up 34.60% from EGP 3.79 in 2021.
Meanwhile, the customers’ deposits enlarged by 42.30% YoY to EGP 89.35 billion as of 31 December 2022, versus EGP 62.81 billion.
Standalone Financial Results
The bank’s standalone net profits after tax increased by 23.30% YoY to EGP 2.25 billion in 2022 from EGP 1.83 billion, whereas the basic EPS rose by 23.10% YoY to EGP 3.73 from EGP 3.03.
Non-consolidated interest income widened by 44.10% to EGP 10.03 billion last year from EGP 6.96 billion in 2021, while the clients’ deposits jumped by 42.30% to EGP 89.48 billion from EGP 62.89 billion.
Dividends
The board of HD Bank greenlighted cash dividends worth EGP 531.30 million, equivalent to EGP 1 per share, for 2022.
In the first nine months (9M) of 2022, the lender posted a 26.40% YoY growth in consolidated net profit to EGP 1.99 billion, compared to EGP 1.58 billion.
