The Housing and Development Bank (HDB) has announced that Basil Al-Haini was elected as a non-executive chairperson of the Bank, and Hassan Ghanem won a new term as CEO.
This step comes to activate the principle of governance by separating the positions of the non-executive chairman of the board of directors and the chief executive officer, in accordance with the new Central Bank and Banking System Law issued in September 2020.
Basil Al-Hini has extensive experience spanning more than 40 years in the commercial and investment banking sector. He held the position of Chairman and Managing Director of Misr Insurance Holding, making many achievements. He also held many leadership positions and served as a non-executive member in the boards of directors and affiliated general assemblies.
For his part, Hassan Ghanem, CEO of the Bank, expressed his happiness at joining Al-Haini as a “non-executive” Chairman of the Board of Directors, welcoming the new members of the Board of Directors, which includes a group of experts and prominent competencies with experience.
It is worth noting that over the past period, under the leadership of Hassan Ghanem, HDB witnessed a remarkable boom and exceptional growth rates at all levels of business and sectors, through the implementation of an ambitious strategy through which the bank sought to become one of the largest comprehensive commercial banks in the banking market providing various services and banking products for all segments of society, in addition to its pioneering role in the field of real estate development.
HDB has also adopted a distinct and unique business model aimed at enhancing the bank’s banking activities and services to achieve its vision and objectives in line with the requirements of the banking market and the principles of competition, which are based on several main axes aimed at expanding the provision of banking products and services, development in the provision of digital services, geographical spread and improvement. The bank showed high levels of success, as the bank recorded a net profit after taxes of EGP 2.257bn at the end of 2022, compared to EGP 1.830bn at the end of 2021, with a growth rate of 23.3%.
As a culmination of the bank’s continuous efforts during the last period, it topped the list of banks listed on the stock exchange, recording the fastest growing bank in customer deposits with a growth rate of 42.3%, the fastest growing in assets with a growth rate of 35.9%, and the fastest growing bank in corporate loans with a growth rate of 56%, as well as the fastest growing in individual deposits, with a growth rate of 21.4%.
