Hassan Ghanem leads HD Bank steadily towards top 10 banks in Egypt

With over 34 years of banking experience, working in multinational and regional financial corporates, Hassan Ghanem, CEO and Managing Director of HD Bank, has successfully written a unique success story with the bank.

Since taking over the executive leadership in late 2019, Ghanem has managed to make radical transformations in HD Bank, propelling it to the forefront of the fastest-growing banks in the Egyptian market. In addition, he has succeeded in increasing the bank's market share, making it the only listed bank to achieve this for the past 2 consecutive years.

One of Ghanem's top priorities was to modify the perception of the bank, which was perceived solely as a real estate financing bank. He emphasized that it is a commercial bank that provides all banking services to customers, in order to achieve the bank's vision of being among top 10 banks operating in the Egyptian banking market. This seems likely to be achieved soon, given the bank's outstanding performance.

Ghanem has managed to lead HD Bank towards exceptional growth and strong indicators. He significantly strengthened the bank's financial position and succeeded in expanding its business volume. This is evident from the 125.96% growth in total assets, reaching EGP 116.28 bn at the end of the first quarter of 2023, compared to EGP 51.46 bn at the end of 2019, an increase of EGP 64.82 bn.

He also succeeded in attracting the trust of more new customers, especially companies. The portfolio of corporate deposits jumped by 178.74% since Ghanem took over, reaching EGP 65.23 bn at the end of the first quarter of 2023, compared to EGP 23.40 bn at the end of 2019, an increase of EGP 41.83 bn.

Individual deposits at HD Bank increased from EGP 17.88 bn at the end of 2019 to EGP 31.16 bn at the end of the first quarter of 2023, achieving a growth rate of 74.24% and an increase of EGP 13.28 bn.

This had a positive impact on the bank's total customer deposits, which jumped by  133.47% to reach EGP 96.39 bn at the end of the first quarter of 2023, compared to EGP 41.29 bn at the end of 2019, an increase of EGP 55.11 bn. This reflects the confidence of individual and corporate customers in the bank's products and services.

Ghanem also sought to strengthen the bank's loan portfolio, especially for individuals. This is evident in the significant growth in retail financing, which increased from EGP 9.91 bn at the end of 2019 to EGP 21.91 bn at the end of March 2023, with a growth rate of 121.17% and an increase of EGP 12 bn.

He also succeeded in significantly increasing the bank's support for companies. Financing for corporates rose to EGP 17.21 bn at the end of the first quarter of this year, compared to EGP 9.82 bn at the end of 2019, with a growth rate of 75.19% and an increase of EGP 7.39 bn.

This was reflected in the bank's total loans to customers, which jumped by 98.28% to reach EGP 39.12 bn at the end of March last year.

This is reflected in the bank's total loans to customers, which jumped by 98.28%, reaching EGP39.12 bn by the end of last March, compared to EGP19.73 bn at the end of 2019, an increase of EGP19.39 bn.

Hassan Ghanem worked on expanding in financial investments, as evident from the increase in the total portfolio by EGP13.83 bn, reaching EGP30.49 bn at the end of the first quarter of 2023, compared to EGP16.65 bn at the end of 2019, with a growth rate of 83.08%.

He also succeeded in increasing the total equity, recording EGP10.63 bn at the end of last March, compared to EGP6.06 bn at the end of 2019, a growth rate of 75.46%, and an increase of EGP4.57 bn.

This strong performance propelled the bank towards achieving strong profitability levels, surpassing the billion-pound mark for the bank's net profits for the first time, recording EGP2.26 bn during 2022, compared to EGP1.95 bn in 2019.

As for the bank's net profits during the current year, it jumped by 106.94%, recording EGP1.32 bn during the first quarter of 2023, compared to EGP640.29 mn during the same period in 2022, an increase of EGP684.69 mn.

The bank's share in asset market increased to 0.91% of the total banking sector assets by the end of 2022, compared to 0.88% at the end of 2021.

It also succeeded in increasing its share in deposit market to 1.04% of the total banking sector deposits by the end of 2022, compared to 0.97% at the end of 2021.

Furthermore, HD Bank managed to increase its share in the loan market to 0.95% of the total banking sector loans by the end of 2022, compared to 0.89% at the end of 2021.

This increase can be attributed to the bank's success in increasing its share in retail loan market, where its share jumped to 2.82% of the total individual sector loans by the end of 2022, compared to 2.67% at the end of 2021.

These strong results propelled HD Bank towards achieving its goal of being among top 10 banks in the Egyptian banking market, especially in light of the clear efforts by the bank's management to enhance its brand and the significant expansion in its business volume in a short period of time, along with its success in increasing its market share.