The Industrial Development Bank was established in 1947, its paid-up capital increased upon the Minister of Finance of 1975 to reach EGP 10 million pounds. However, its authorized capital was increased to 2 billion Egyptian pounds after its activities have been diversified.
The state owns 80 percent of IDB stakes while the rest is owned by other shareholders.
The bank is keen on providing wide range of banking products and services to its clients either individuals or corporates. The bank provides its services to various development and economic activities besides making available foreign currencies necessary for importing machinery, equipment and raw materials.
The bank development plan is based on expanding through a network of branches covering all the governorates, with a focus on strategic and vital areas. It operates through 25 branches in Egypt.
IDB provides all support to large, medium, small and micro projects as well as development projects, in addition to its distinguished role in mortgage financing and financing the delivery of natural gas to housing units and factories.
The bank was chosen as the fastest growing in Egypt during 2017, according to the Business News Index, which included in its poll 27 banks, where the bank won first place upon growth in the size of its assets, net profits and net returns.
