HDB expands its integrated banking activities

The Housing and Development Bank (HDB) has approved its independent and consolidated financial statements for the six-month period ending on 30 June 2022, and the business results showed a 30% increase in the bank’s consolidated net profits compared to the same period of the previous year. 

The HDB’s consolidated net profit increased to EGP 1.303bn in 1H 2022, compared to EGP 1.004bn in 1H 2021, thanks to the increase in the bank’s standalone profit from EGP 1.001bn in 1H 2021 to EGP 1.204bn in 1H 2022, with a growth rate of 20.3%. 

Hassan Ghanem, the Chairperson and Managing Director of the HDB, expressed his happiness with the bank’s exceptional performance and positive financial indicators during the first half of this year, which comes as a culmination of the efforts made to implement the development strategy adopted by the bank, to become one of the largest integrated commercial banks in the Egyptian banking market, which is based on several axes aimed at expanding the provision of banking products and services, development and provision of digital services, geographical spread and improving the level of service provided to customers. 

Ghanem explained that the bank has achieved remarkable progress in its performance thanks to its success in implementing its ambitious plans for expansion and growth, through the development of activities and services provided to individuals and companies, and the financing of small and medium enterprises, which was positively reflected on the results achieved by the bank during the first half of 2022.