Hassan Ghanem Leads HD Bank to Remarkable Success in Egypt's Banking Sector

Years of prosperity have been witnessed by Housing and Development Bank since Hassan Ghanem took the helm in September 2017. Despite challenging circumstances, the bank has achieved consecutive successes, including a transformation from a specialized real estate financing bank to a comprehensive bank offering all types of banking services.

This has led to strong growth in the bank's main portfolios, propelling it to become one of the fastest-growing banks in Egypt.

Ghanem has pursued an ambitious strategy focused on expanding the range of banking products and services, enhancing digital services, geographic expansion, and improving customer service.

First Bank observes the significant developments in the bank under Hassan Ghanem's leadership.

Ghanem's efforts have significantly boosted the bank's asset portfolio, jumping to EGP 110.67 bn by the end of the first half of 2023, compared to EGP 51.94 bn at the end of 2017, a growth rate of 113.07% and an increase of EGP 58.73 bn.

Moreover, the bank has gained the trust of more depositors, with an increase of EGP 50.01 bn, totaling EGP 90.89 bn by the end of the first half of 2023, compared to EGP 40.88 bn at the end of 2017, a growth rate of 122.31%.

This strong growth is primarily attributed to a significant increase in corporate deposits at HD Bank, which rose by approximately 220.95% to reach EGP 52.85 bn by the end of June 2023, compared to EGP 16.47 bn at the end of 2017, an increase of EGP 36.39 bn.

Regarding retail deposits, they have risen to EGP 38.04 bn by the end of the first half of 2023, up from EGP 24.42 bn at the end of 2017, marking a growth rate of 55.78% and an increase of EGP 13.62 bn.

Hassan Ghanem aimed to increase financing and credit facilities to customers, resulting in a total loan portfolio of EGP 40.57 bn by the end of June 2023, compared to EGP 13.41 bn at the end of 2017, a growth rate of 202.51% and an increase of EGP 27.16 bn.

This increase primarily stems from expanding loans to individuals, which have significantly risen to EGP 22.93 bn by the end of the current year's first half, compared to EGP 7.55 bn at the end of 2017, a growth rate of 203.96% and an increase of EGP 15.39 bn.

Additionally, Ghanem succeeded in increasing financing for corporates by approximately 200.68%, reaching EGP 17.64 bn by the end of the first half of 2023, compared to EGP 5.87 bn at the end of 2017, an increase of EGP 11.77 bn.

Hassan Ghanem also introduced a diverse range of banking services to attract new segments of society. He expanded the bank's coverage plan to encompass various governorates of the republic, resulting in 99 branches and approximately 431 ATM machines by the end of June 2023.

In terms of profitability, Hassan Ghanem managed to increase the net profits of HD Bank by approximately 109.82%, reaching a record EGP 2.26 bn during 2022, compared to EGP 1.08 bn in 2017, an increase of EGP 1.18 bn.

Moreover, under Ghanem's leadership, Housing and Development Bank achieved the fastest quarterly growth in net profits in its history, jumping by about 150.41% to record EGP 3.015 bn during the first half of 2023, compared to EGP 1.204 bn during the same period in 2022, marking an increase of EGP 1.811 bn. This makes it the top-performing bank in terms of net profit growth in the first half of the current year, according to First Bank's list of the fastest-growing listed banks