Hassan Ghanem Founding new era with HD Bank

Housing and Development Bank’s indicators witnessed strong growth, specifically during Hassan Ghanem's leadership as CEO and Managing Director of the Bank in December 2019, and until the Bank's most recent financial statements in December 2019.

This was revealed by a new monitoring conducted by First Bank to monitor the development of HD Bank’s indicators since Ghanem assumed executive leadership. The Bank's asset portfolio jumped by EGP 73.6 bn, reaching EGP 125.1 bn by the end of 2023, compared to EGP 51.5 bn by the end of 2019, with growth of 143.1% during his leadership.

This significant growth comes as a result of the growth of the Bank's loan portfolio, as the Bank’s total customer loans rose to EGP 45.5 bn by the end of last year, compared to EGP 19.7 bn by the end of 2019, with a growth of 130.5% and an increase of EGP 25.8 bn.

It is worth mentioning that the significant increases in the Bank's total loans came due to its growing expansion in the retail banking sectors, which resulted in an increase in its retail loans from EGP 9.9 bn by the end of 2019, reaching EGP 24.9 bn by the end of 2023, with a growth rate of 151.6%, and an increase over EGP 15 bn.

Its expansion in the corporate loans market also played a role in raising its total customer loans, as its corporate loans portfolio (Corporate and Business Banking) jumped to EGP 20.6 bn by the end of 2023, from EGP 9.8 bn by the end of 2019, with a growth rate of 109.4%, and an increase of EGP 10.7 bn.

Ghanem worked to attract a large segment of customers to the Bank, whether individuals or corporates, to put their savings in HD Bank, and hence; Striving to offer a distinct and innovative range of products that suit all the needs of different customers and all different categories, which resulted in the volume of the deposit portfolio rising by 145.3% during his leadership, reaching EGP 101.3 bn by the end of last year, compared to EGP 41.3 bn by the end of 2019, with an increase of nearly EGP 60 bn.

This is supported by the increase in the retail deposits portfolio, rising to EGP 51.1 bn by the end of 2023, compared to EGP 17.9 bn by the end of 2019, with a growth of 185.9% and an increase of EGP 33.2 bn.

The increase in corporate deposits was also a factor in the growth of the total deposit portfolio, as the growth of corporate deposits during the period under analysis increased by EGP 26.7 bn, registering EGP 50.1 bn by the end of 2023, up from EGP 23.4 bn by the end of 2019, with a growth of 114.3%.

HD Bank has been able to achieve significant 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.

This is evident in its profit indicators, where the bank's net profits jumped by 209.1% during the period under analysis, exceeding EGP 6 bn in 2023, compared to EGP 2 bn in 2019, with an increase of over EGP 4 bn.

With this record growth, HD Bank recorded the highest annual growth rate in 5 years, which pushed it to top the list of the fastest growing listed banks in net profits over the past year. You can see the full list here.

Net interest income jumped by 255.3% to EGP 10.5 bn in 2023, compared to EGP 2.9 bn in 2019, with an increase of EGP 7.5 bn.

Net fees and commissions income rose from EGP 328.7 mn in 2019, to EGP 704.5 mn in 2023, with a growth of 114.3% and an increase of EGP 375.8 mn.

The Bank also managed to achieve a significant shift in the rate of return on average equity, jumping to 46.94% in 2023, compared to 35.69% in 2019.

The Return on Average Assets rate in HD Bank rose to 5.27% in 2023, compared to 4.12% in 2019.

Under the leadership of Hassan Ghanem, the Bank has been able to grab the top of many of the fastest-growing banks lists of First Bank ratings over many previous periods in a number of indicators.

The most recent ratings that the Bank lead over the past year is First Bank list of the fastest-growing banks in direct loans, and leading the fastest-growing banks in total financial investments and treasury bills in 2023.

It also ranked first on First Bank list of the best listed banks in the Capital Adequacy Ratio by the end of last year, and the list of the fastest-growing listed banks in retail deposits in 2023

Furthermore, HD Bank tops First Bank list of the fastest growing listed banks in net interest income in the past year, and leads the list of the most efficient listed banks in return on shareholder’ equity in 2023.

It also came on top of the First Bank's composite growth index of the fastest-growing listed banks over the past year, and the most focused listed banks on retail loans by the end of December 2023.

Ghanem’s experience has been praised by many international institutions. The bank has won a number of awards, most notably, the fastest growing banks in terms of syndicated loans in Egypt, the fastest growing commercial bank in Egypt and Fastest Growing Issuer of Credit Cards in Egypt for 2023 by Global Business Outlook Magazine.

It also won the Fastest Growing Bank Award in Corporate loans in Egypt and the Fastest Growing Bank in syndicated Loans in Egypt for 2023 from Global Business & Finance Magazine.