Performance indicators of the Housing and Development Bank (HDBEG) during 2017 revealed the bank's success in achieving a net profit, after paying EGP 1.075bn in taxes, which the bank attributed to the professional policy of its senior management and the efforts of its employees. The gross profit before taxes reached EGP 1.49bn by the end of 2017, compared with EGP 0.92bn by the end of 2016, an increase of 62%. According to a statement by the bank, the achievement of these profits comes despite the limitations and difficulties faced by the Egyptian economy, noting that the bank was able to mark achievements in its level of activity, while maintaining acceptable limits of risk. The statement mentioned that the cash flow liquidity ratio was 40.8% and total assets reached EGP 51.9bn by the end of 2017, compared to EGP 32bn by the end of 2016, a growth rate of 62%. The bank's total loan portfolio at the end of 2017 amounted to EGP 13.4bn, compared with EGP 10.5bn in 2016, an increase of 27.6% from the previous year, despite the slowdown in economic growth. According to the bank, total deposits grew by 79.3% to EGP 40.9bn compared to EGP 22.8bn in 2016. Net revenue from return was EGP 2.6bn at the end of 2017, compared to EGP 1.7bn in 2016, a growth rate of 52.9% due to the increase in return on loans and return on balances at banks and treasury bills. Net income from commissions amounted to EGP 278m by the end of 2017, compared to EGP 237.5m in 2016, a growth rate of 17%. The loss from credit was EGP 891m at the end of 2017 compared to EGP 597m in 2016 due to the increase in loans and facilities to maintain the strength and soundness of the bank's financial position. Net trading income at the end of 2017 was EGP 272m, compared to EGP 295m in 2016, as a result of a decrease in the amount invested in the zero-coupon bonds from EGP 1.9bn to EGP 0.3bn. The bank pointed to an increase in expenses of 22.3% in 2017 compared to 2016, as a result of calculating the depreciation of the programmes and licenses of the banking system, and increased volume of activity of the bank as well as increase in the number of bank branches to reach 80 branches. According to the bank, its return on equity rose to 43.2% by the end of 2017, compared to 29.3% in 2016. Its return on assets at the end of 2017 was 2.07% compared to 2% in 2016.
