Housing and Development Bank (HDB) board of directors approved the opening of nine new branches in seven governorates. The nine new branches will be opened in Opera, Shoubra, 6th of October, Shbein Alkoum, South Sinai, Suez, Portrait El Sokhna Village, Mansoura and New Beni Suef. The bank has previously approved opening three new branches last month taking its total number of branches to 69. HDB aims to achieve a net profit on a standalone basis of EGP569 million by the end of 2016, an increase of 15% compared to its target net profit of 2015. (Amwal Al Ghad)   Housing & Dev. Bank: EGP21.16 as of 16 February 2016, Rating: Buy, FV: EGP29.65 per share, MCap: USD342 million, HDBK EY / HDBK.CA