HD Bank continues its record growth under Hassan Ghanem leadership

In recent years, Housing and Development Bank has seen significant progress in its performance, achieving continuous successes in various indicators, making it one of the fastest growing Egyptian banks in the past four years, and enhancing its position as one of the most important comprehensive commercial banks in the Egyptian market.

This success is due to the adoption by Hassan Ghanem, CEO and Managing Director of the Bank, and his team, of a unique business model, through which they were able to make the most of all the opportunities available to achieve this extraordinary success.

This was revealed by a new monitoring conducted by First Bank to monitor the development of the most important indicators of HD Bank since Ghanem assumed executive leadership in December 2019, until the Bank's most recent financial statements in March 2024.

The Bank's assets portfolio jumped by EGP 81.5 bn, reaching EGP 132.9 bn by the end of March 2024, compared to EGP 51.5 bn by the end of 2019, with growth of 158.3%.

This significant growth comes as a result of the growth of the Bank's loans portfolio, with the Bank’s total customer loans rising to EGP 48.5 bn by the end of March 2024, compared to EGP 19.7 bn by the end of 2019, with a growth of 145.8% and an increase of EGP 28.8 bn.

It is worth mentioning that the substantial 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, to EGP 25.8 bn by the end of March 2024, with a growth of 160.3% and an increase of EGP 15.9 bn.

Its expansion in the corporate loans market also played a role in raising its total customer loans. Its corporate loans portfolio jumped to EGP 22.7 bn by the end of March 2024, compared to EGP 9.8 bn by the end of 2019, with a growth rate of 131.2% and an increase of EGP 13 bn.

It also succeeded in reducing the percentage of non-performing loans to 6.7% in the first quarter of 2024 from 9% by the end of 2019, reflecting the Bank's commitment to continue increasing its loans volume while maintaining the quality standards of the loans portfolio and ensuring the diversity of loans from different sectors to ensure its sustainable growth.

Hassan Ghanem has made great efforts to attract a large number of customers, both individuals and corporates, to deposit their savings in the Bank, and hence; offering a variety of innovative products that meet customers' diverse needs.

As a result of these efforts, the deposit portfolio rose by 158% during his tenure, reaching EGP 106.5 bn at the end of March 2024, compared to EGP 41.3 bn at the end of 2019, representing an increase of EGP 65.2 bn.

This was supported by the jump in the retail deposit portfolio, rising to EGP 47.2 bn by the first quarter of 2024, compared to EGP 17.9 bn by the end of 2019, with a growth of 163.8% and an increase of EGP 29.9 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 36 bn, recording EGP 59.3 bn by the end of March 2024, up from EGP 23.4 bn by the end of 2019, with a growth of 153.49%.

Housing and Development Bank has been able to generate distinctive returns thanks to its effective strategies in its various sectors. In addition, the efficiency and wisdom of management have played a significant role in handling the Bank's resources literally to maximize profitability.

This is evident in its profit indicators, where the bank's net profit 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.

Thanks to this record growth, the Bank has recorded the highest annual growth rate in 5 years, and topped First Bank list of the fastest growing net profits in the past year. You can see the list in full here

As for the bank's net profit during the year, it jumped by 83.16%, reaching EGP 2.4 bn in the first quarter of 2024, compared to EGP 1.3 bn in the same period from 2023, with an increase of EGP 1.1 bn.

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

The top rankings that the Bank led in the past year was the First Bank list of the fastest-growing banks in direct loans, the fastest-growing banks in total financial investments and treasury bills in 2023.

It also ranked first on the First Bank list of the best banks listed in the Capital Adequacy Standard by the end of last year, and the list of the fastest growing listed banks in the retail deposits in 2023, First Bank list of the fastest growing banks in net interest income in the past year, and the list of the most efficient listed banks in the Return on Average Equity in 2023.

The Bank also came on top of the First Bank composite growth index of the fastest-growing listed banks over the past year, and the list of the top listed banks focusing on retail loans by the end of December 2023.