Earnings Report /

Housing and Development Bank: 3Q21 – Provisions reversal support earnings amid opex expansion

  • Results were supported by: 1) healthy topline, 2) lower booked provisions, and 3) lower effective tax rate

  • NIM remained stable at 6.2%, despite lower treasury exposure of 15% to total assets

  • Balance sheet showed healthy growth where gross loans expanded by 7% q/q, while deposits grew by 8% q/q.

Dalia Bonna
Al Ahly Pharos Securities Brokerage
11 November 2021