HD Bank’s 5 Years Historical Story under Hassan Ghanem's Leadership

Housing and Development Bank has undergone a qualitative transformation under Hassan Ghanem since taking over as Chief Executive Officer in December 2019, thanks to its effective strategies and management. The Bank has achieved remarkable growth in its various financial indicators, recording huge leaps in the portfolio of assets, loans and deposits, making it widely praised by prestigious international financial institutions.

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 June 2024.

The bank's assets portfolio jumped to EGP 150 bn by the end of June 2024, compared to EGP 51.5 bn by the end of 2019, with growth of 191.45% and an increase of EGP 98.5 bn.

This significant growth comes as a result of the growth of the Bank's loan portfolio, where the Bank’s total customer loans rose to EGP 50.8 bn by the first half of 2024, compared to EGP 19.7 bn by the end of 2019, with a growth rate of 157.29%, and an increase exceeds EGP 31 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 10.4 bn by the end of 2019, reaching EGP 26.6 bn by the end of June 2024, with a growth of 155.39%, and an increase of EGP 16.2 bn.

The Bank's expansion of the corporate loans market also played a prominent role in raising the total loan portfolio. The portfolio of corporate loans rose by 159.41% to EGP 24.1 bn by the end of June 2024, compared to EGP 9.3 bn at the end of 2019, with an increase of EGP 14.8 bn.

In terms of risk management, the Bank succeeded in reducing the proportion of non-performin loans to 6% by the end of the first half of 2024 compared to 9% by the end of 2019, reflecting the Bank's commitment to enhancing the quality of its loans portfolio and diversifying sectors to ensure 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 194.78%, registering EGP 121.7 bn by the end of June 2024, compared to EGP 41.3 bn by the end of 2019, with an increase of EGP 80.4 bn.

This was supported by the jump in the retail deposit portfolio, rising to EGP 53.6 bn by the end of June 2024, compared to EGP 17.9 bn by the end of 2019, with a growth of 199.87% and an increase of EGP 35.7 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 44.7 bn, exceeding EGP 68 bn by the end of June 2024, compared to EGP 23.4 bn by the end of 2019, with a growth of 190.89%

HD 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, HD Bank has recorded the highest annual growth rate in 5 years, and the First Bank list of the fastest growing net profits in the past year is also released. You can see the list in full here

As for the bank's net profit during the year, it jumped by 71.08%, reaching EGP 5.2 bn in the first half of 2024, compared to EGP 3 bn in the same period in 2023, representing an increase of EGP 2.1 bn.

Ghanem’s experience has been praised by many international corporates. 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 the Fastest Growing Credit Card Issuer Egypt 2023 of World 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

The Bank awarded the fastest growing bank in corporate loans in Egypt for 2023 by International Business and Gazette International.

For more information about Hassan Ghanem and his achievements, click here