Housing and Development Bank (HDB) is an Egyptian bank established in 1979 to alleviate housing shortages by narrowing the gap between low supply and increasing demand. It was originally a state-owned enterprise before being traded on the stock exchange. As of January 2024, HDB has 100 branches and over 440 ATMs across Egypt, with 14 subsidiaries, including El-Tameer Company for Real Estate Development and Investment.
HDB has been at the forefront of Egypt’s economic reform program, focusing on achieving financial inclusion and digital transformation. The bank’s net profit grew by 140.6% in 2023 to hit $137 million. HDB’s key mandate is to finance moderate housing units for Egypt’s inhabitants and play a leading role in mending the gap between supply and demand in the real estate sector.
Bank Overview
Historical Background
Housing and Development Bank (HDB) is an Egyptian commercial bank established in Cairo on June 30, 1979. The bank was initially a state-owned enterprise (SOE) with a mandate to alleviate housing shortages by narrowing the gap between low supply and increasing demand. Since 1995, the bank has been traded on the Egyptian Stock Exchange (EGX).
HDB’s Role in the Egyptian Banking Sector
Housing and Development Bank (HDB) is one of the leading banks in Egypt. It focuses on providing affordable housing finance solutions to the Egyptian market and is also involved in other banking areas, such as retail, corporate, and investment banking.
The bank is well known for its commitment to digital transformation and financial inclusion. HDB has been playing a significant role in supporting the Egyptian government’s efforts to achieve financial inclusion by enabling access to banking services to the unbanked population in Egypt.
Governance and Leadership
Hassan Ghanem is the Managing Director and Executive Chairman of the Housing and Development Bank (HDB). He has led the bank since 2017 and has been instrumental in driving the bank’s growth and success.
HDB is an Egyptian bank owned by a group of shareholders, including the Egyptian government, which holds a significant stake in the bank. The bank’s governance structure is overseen by a board of directors responsible for setting the bank’s strategic direction and guaranteeing that it complies with all relevant laws and regulations.
In conclusion, the Housing and Development Bank (HDB) is a leading Egyptian bank that has been significantly supporting the Egyptian government’s efforts to achieve financial inclusion and providing affordable housing finance solutions to the Egyptian market. The bank’s commitment to digital transformation and financial inclusion has been a key driver of its success. Under the leadership of Hassan Ghanem, the bank is well-positioned to continue to grow and succeed in the Egyptian banking sector.
Financial Performance
Net Profit and Assets
Housing and Development Bank (HDB) has been performing well regarding net profit and assets. According to the bank’s financial statements, the standalone net profit for Q3-2022 was EGP 549 million, a 26.6% year-over-year increase compared to Q3-2021. The bank recorded a standalone net profit increase of 22.2% to EGP 1,753 million on a year-to-date basis. The bank’s financial position has been strong, with total assets of EGP 170.9 billion as of December 31, 2023.
Market Value and Shareholder Equity
HDB has maintained a strong market value and shareholder equity. As of July 21, 2024, the bank’s market capitalization was EGP 46.5 billion. The bank’s shares are listed on the Egyptian Exchange (EGX) and have been performing well, with a 5-year average return on equity of 22.3%. As of December 31, 2023, the bank’s shareholder equity was EGP 19.9 billion.
HDB’s profits before taxes have been consistently increasing over the years, indicating the bank’s ability to generate revenue and maintain its financial position. The bank has been able to expand its business activities, as reflected in its strong growth in H1 2022. The bank’s efforts to implement development initiatives have been successful, as expressed by the bank’s officials.
In conclusion, HDB has maintained a strong financial position, with consistent net profit and assets growth. The bank’s market value and shareholder equity have also been strong, with a positive return on equity. HDB’s performance reflects its ability to generate revenue and expand business activities, making it a reliable choice for investors.
Strategic Initiatives
Digital Transformation
Housing and Development Bank (HDB) has adopted an ambitious plan for digital transformation to enhance financial inclusion and keep pace with the Central Bank of Egypt’s (CBE) initiatives. The bank has been investing in modernizing its core systems, expanding its digital services, and developing mobile applications to provide customers seamless banking experiences. HDB aims to leverage technology to streamline operations, reduce costs, and improve customer satisfaction.
Geographical Expansion
Housing and Development Bank is committed to expanding its presence across Egypt to serve more customers and increase its market share. The bank has been opening branches strategically, including the new administrative capital, to cater to the growing demand for housing finance and other banking services. HDB is also exploring opportunities to expand its operations in other regional countries.
Sustainable Development Focus
Housing and Development Bank is committed to promoting sustainable development by supporting initiatives that contribute to social and economic development. The bank has been investing in renewable energy, green buildings, and water conservation projects. HDB also supports corporate social responsibility (CSR) programs that aim to improve the quality of life of people in the communities it serves. The bank is also committed to providing education and training programs to its employees and customers to enhance their skills and knowledge.
In summary, Housing and Development Bank is pursuing a strategic plan focusing on digital transformation, geographical expansion, and sustainable development. The bank is dedicated to leveraging technology to improve its operations, expanding its presence to serve more customers, and supporting initiatives that contribute to social and economic development. HDB’s initiatives align with Egypt’s urban development plans, and the bank is well-positioned to play a critical role in supporting the country’s economic growth.
Products and Services
Banking Services for Diverse Customer Segments
Housing and Development Bank (HDB) offers various banking services to cater to diverse customer segments. The bank provides retail banking services such as personal loans, credit cards, and savings accounts. Additionally, HDB offers corporate banking services, including trade finance, project finance, and treasury services. The bank also provides investment banking services such as mergers and acquisitions, underwriting, and financial advisory services.
HDB’s banking services are tailored to meet the requirements of different customer segments. These include individuals, small and medium-sized enterprises (SMEs), and large corporations. The bank’s retail banking services are designed to offer convenience and flexibility to individual customers. Its corporate banking services are customized to meet the unique financial needs of businesses.
Innovative Financial Products
HDB is committed to providing innovative financial products to its customers. The bank offers a range of products designed to meet customers’ evolving needs in the real estate market. HDB’s innovative financial products include mortgage loans, home equity loans, and real estate investment trusts (REITs).
The bank’s mortgage loans are designed to help customers purchase their dream homes. HDB offers competitive interest rates and flexible repayment terms to make homeownership more accessible. The bank’s home equity loans allow customers to access the equity in their homes to fund other financial needs.
HDB’s REITs allow customers to invest in the real estate market without purchasing physical property. The bank’s REITs are professionally managed and offer attractive returns to investors.
Real Estate and Development Financing
HDB is a key player in Egypt’s real estate and development financing sector. The bank finances various real estate projects, including residential, commercial, and industrial projects. HDB’s real estate and development financing services include land acquisition, construction, and project financing.
The bank’s real estate and development financing services are designed to support the growth of the real estate market in Egypt. HDB’s financing solutions are customized to meet the unique needs of developers and investors in the real estate sector. The bank’s real estate and development financing services align with the government’s efforts to promote the development of the real estate market in Egypt.
In conclusion, HDB offers various innovative banking and financial services to cater to diverse customer segments. The bank’s commitment to providing innovative financial products and services has made it a key player in Egypt’s real estate and development financing sector. HDB’s focus on customer satisfaction and its alignment with the government’s efforts to promote the development of the real estate market in Egypt makes it a reliable partner for customers looking to invest in the real estate sector.
Operational Network
Branches and ATMs
Housing and Development Bank (HDB) has an extensive network of branches and ATMs across Egypt. As of July 2024, HDB operates over 200 branches in all governorates, providing easy access to its customers. In addition, HDB has a large network of ATMs, which are available 24/7 for its customers’ convenience.
Digital Banking Platforms
HDB offers its customers internet and mobile banking services, allowing them to access their accounts and perform transactions from anywhere at any time. The bank’s digital platforms are user-friendly and secure and provide a range of features, such as bill payments, fund transfers, and account management.
Subsidiaries and Partnerships
HDB has direct and indirect ownership positions in subsidiaries and sister companies. These include El Tameer for Microfinance, HDB Financial Services, and HDB Real Estate Investment and Development. These subsidiaries offer various services. These services include mortgage finance, property development, and property management.
In addition, HDB has partnerships with other financial institutions and ATM networks. These partnerships expand its services and reach a wider customer base.
In line with its expansion plans, HDB opened a new branch in New Cairo in July 2024, expanding its network across Egypt. As a holding company, HDB continues to explore new opportunities for growth and development in the Egyptian market.
HDB’s operational network is extensive, providing its customers easy access to various banking services. The bank’s digital platforms and subsidiaries further enhance its offerings, making it a leading player in the Egyptian banking industry.
Frequently Asked Questions
How can I apply to the Housing and Development Bank in Egypt?
To apply for a job at the Housing and Development Bank in Egypt, interested individuals can visit the bank’s official website or check for job postings on online job portals. The bank regularly advertises job vacancies on its website and social media platforms. Interested candidates can submit their applications online and follow the instructions provided in the job posting.
Where can I find a list of branches for the Housing and Development Bank in Egypt?
The Housing and Development Bank has a network of branches across Egypt. The bank’s official website provides a complete list of branches, their addresses, and contact details.
What are the steps to access online banking with the Housing and Development Bank?
Customers must first register for the service to access online banking with the Housing and Development Bank. They can do so by visiting the bank’s official website and following the instructions provided. Once registered, customers can access their accounts online by logging in with their username and password.
How can I contact the Housing and Development Bank customer service in Egypt?
The Housing and Development Bank has a dedicated customer service team to assist customers with their queries and concerns. Customers can contact the bank’s customer service team by calling the hotline on the bank’s official website. They can also email the bank’s customer service email address or visit the nearest branch for assistance.
What is the hotline number for the Housing and Development Bank?
The Housing and Development Bank’s hotline number can be found on its official website. Customers can call this number to speak to the bank’s customer service team and get assistance with their queries and concerns.
How do I find the SWIFT code for the Housing and Development Bank in Egypt?
The Housing and Development Bank in Egypt’s SWIFT code can be found on the bank’s official website. Customers can also contact the bank’s customer service team to obtain the code. The SWIFT code is required for international wire transfers and is a unique identifier for the bank.
EGYPT MLS
Egypt MLS, under Arab MLS, is a cutting-edge real estate platform for licensed professionals, realtors, and brokers in Egypt. It delivers a complete property database, streamlining the search, comparison, and booking of properties for sale, and aims to revolutionize the real estate market in Egypt.