1.999 billion pounds net profits of the Housing and Development Bank in 9 months
Interest income jumped by 38.6% to 7.053 billion pounds during the period January-September 2022, compared to 5.090 billion pounds in the comparative period.
Shrouq
The Housing and Development Bank achieved a consolidated net profit after taxes of 1.999 billion pounds during the nine months ending last September, compared to 1.582 billion pounds in the corresponding period last year, an increase of 26.4%.
According to the income statement sent to the Egyptian Stock Exchange today, interest income jumped by 38.6% to 7.053 billion pounds during the period January-September 2022, compared to 5.090 billion pounds in the comparative period.
Interest expense rose
Interest expenses rose during the same period to 3.648 billion pounds, compared to 2.640 billion pounds in the same period last year.
The interest margin rose by 39% to 3.405 billion pounds during the nine months ending last September, compared to 2.450 billion pounds in the corresponding period.
The basic share of profit per share was 13.09 pounds, compared to 10.36 pounds in the comparative period.
Urban Development Fund
In a related context, the Board of Directors of the Urban Development Fund held its meeting chaired by Eng. Khaled Siddiq. To follow up on a number of fund projects in different governorates.
development of residential communities
At the outset of the meeting, “Siddiq” explained that the Urban Development Fund aims to contribute to achieving development in the various residential communities, as well as working to ensure the right of citizens to obtain safe housing, and to improve their living and economic conditions, based on the directives of the political leadership, and in implementation of the goals of sustainable development. that support adequate, safe and affordable housing and basic services for all persons.
During the meeting, pricing and offering procedures and mechanisms for the project to develop the capitals of governorates and major cities were approved within the presidential initiative (housing for all Egyptians). The executive position of the ongoing projects in the urgent phase was also reviewed.
In terms of the executive position of the ongoing projects, “Seddik” indicated that work is currently underway in 23 sites in 13 governorates, namely: (Cairo – Suez – Damietta – Kafr El Sheikh – Gharbia – Qalyubia – Fayoum – Sharkia – Menoufia – Qena – Minya – Sohag. - Dakahlia), with a total of 61 thousand housing units. Implementation rates have reached advanced rates.
