El Sebaie explained that clients’ deposits have increased to EGP 14.6bn, noting that the bank aims to increase its deposits to EGP 19.4bn by the end of 2017 and the value of loans to EGP 10.6bn. “HDB has achieved a growth in its profits during the first quarter of 2017 by 60.2%, reaching EGP 349.4m, compared to EGP 218.1m during the first quarter of last year,” said El Sebaie. The second is by expanding geographically through the presence of the bank across the country, with new branches being established besides the 73 branches of the bank,” El Sebaie said. El Sebaie added that the bank launched savings certificates in US dollars with a fixed return rate that is disbursed every three months. According to El Sebaie, the certificate is issued for Egyptians living abroad and inside the country.

Source: Daily News Egypt May 29, 2017 06:00 UTC