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

Years of significant progress in the performance of Housing and Development Bank, in which successive successes have been achieved in all indicators and different aspects; which lead it to be one of the fastest growing Egyptian banks in the last three years and achieving strong levels of profitability, brought about by the adoption of Hassan Ghanem, CEO and Managing Director of the Bank and his team of associates, a distinctive and unique business model through which he was able to maximize all the opportunities available to achieve that extraordinary success.

In addition to its ambitious expansion strategy, which places customers at the top of its priorities as its main focal points for achieving the Bank's expansion and growth plan, it has in turn significantly strengthened the financial position of HDB since Hassan Ghanem assumed executive leadership in late 2019.

The bank's assets jumped by 138.5%, reaching EGP 118.4 bn by Q3- 2023, compared to EGP 49.6 bn by the end of September 2019, with an increase of EGP 68.7 bn.

This significant growth comes against the backdrop of growth in the Bank's loan portfolio. Total customer funding of HDB jumped to EGP 42.9 bn by the end of September 2023, compared to EGP 18.4 bn by the end of Q3- 2019, with a growth of 133% and an increase of EGP 24.5 bn.

It is worth mentioning that the substantial increases in the Bank's total funding came due to its growing expansion in the retail banking sectors, resulting in an increase in its Consumer funding from EGP 9.5 bn by the end of September 2019, to EGP 24 bn by the end of Q3 of this year, with a growth rate of 153.9%, and an increase of EGP 14.6 bn, continuing its leadership in this market.

Its expansion in the corporate funding market also played a role in raising its total customer loans. Its corporate loans portfolio (including microcredit for economic activities) jumped to EGP 18.8 bn by the end of September, from EGP 8.9 bn by the end of Q3- 2019, bringing a growth rate of 110.9% and an increase of EGP 9.9 bn.

Ghanem has worked to attract a large segment of customers to the bank, whether they are individuals or organizations. To put their savings into HDB, so he seeks to offer a distinct and innovative range of products that suit all different customer needs and all different categories. Which resulted in a 146.1% increase in the seize of the deposit portfolio, To reach EGP 95.51 bn by the end of September 2023, compared to EGP 38.8 bn by the end of Q3- 2019, with an estimated increase of EGP 56.7 bn.

This was supported by the jump in the consumer deposit portfolio, rising to EGP 45.1 bn by the end of September 2023, compared to EGP 16.5 bn by the end of Q3 of this year, with a growth of 173.4% and an increase of EGP 28.6 bn.

The increase in corporate deposits was also a factor in the growth of the total portfolio, as the growth of corporate deposits increased during the period under analysis by EGP 28.1 bn, reaching EGP 50.4 bn by the end of September 2023, compared to EGP 22.3 bn by the end of the same month in 2019, with a growth of 125.9%.

HDB significantly boosted its financial investments, achieving a growth rate of 157.57%, recording its total financial investments portfolio of EGP 28.8 bn by the end of September 2023, up from EGP 11.2 bn by the end of Q3- 2019, with an estimated increase of EGP 17.6 bn.

In addition, Housing and Development Bank has been able to achieve distinctive returns thanks to the effective strategies it adopts in its various sectors, as well as the efficiency and wisdom of management in dealing literally with the management of the Bank's resources optimally to maximize profitability

Its net profits jumped by around 190.6% during the period under analysis, reaching EGP 4.42 bn during the first 9M of 2023, compared to EGP 1.5 bn during the same period in 2019, with an increase of EGP 2.9 bn.

HD Bank net revenues jumped to EGP 7.3 bn during the first 9- 2023, compared to EGP 2.1 bn during the same period of 2019, with a growth of 243.3%, an increase estimated at EGP 5.2 bn.

Net fees and commissions income rose to EGP 512.1 mn in the first 9M of 2023, compared to EGP 220.7 mn during the same period in 2019, bringing a growth rate of 132% and an increase of EGP 291.4 mn.

The Bank also managed to bring about a significant shift in return rate on average equity (the Bank's standard of efficiency in investing landlords' funds), jumping to 36.79% during the first 9M of 2023, compared to 28.93% during the same period in 2019.

The return rate on average assets (the Bank's standard of efficiency in its asset investment) at HDB rose to 3.98% during the first 9M of 2023, compared to 3.27% during the same period in 2019.

With the strong performance of the HDB under the leadership of Hassan Ghanem, he has been able to grab the top of many of the fastest-growing lists in FirstBank ratings over many previous periods in a number of indicators.

The most prominent ratings that enabled the Bank to clinch the first place in them during Q3- 2023 were the list of the fastest-growing listed banks in net profits during the first 9M of this year with a growth rate of 152.16%, and the list of the fastest-growing listed banks in total consumer deposits during the same period of this year with a growth of 65.7%.

The Bank also grabbed the top of the list of fastest growing banks in direct loans during the first 9M of this year at a rate of 54.3%, and the list of fastest growing banks in net return income during the same period in 2023, following a rise of 114.2%.

HD Bank also ranked first on FirstBank list of the best listed banks in the Capital Adequacy Ratio by the end of September, after registering its Capital Adequacy Ratio 24.87% by the end of the same period, reflecting its strong ability to meet its commitments and face any future losses.