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Egyptian state-owned Housing and Development Bank’s (HDB) standalone profits dropped 612.15 million Egyptian pounds ($35.9 million) during the first quarter of the year from 612.91 million last year, according to financial statements on Wednesday.
Net income from interest registered 720.38 million pounds in the three-month period ended 31 March, compared with 949.74 million pounds in the same period a year earlier.
In 2018, HDB logged standalone profits of 1.6 billion pounds against 1.07 billion in the previous year.