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2 billion pounds, the Housing and Development Bank profits during 2020, despite the repercussions of the Corona pandemic



The results of the Housing and Development Bank’s business for the fiscal year 2020 showed that the Bank continued to achieve positive results and record strong growth rates, despite the exceptional circumstances and the negative effects resulting from the Coronavirus pandemic on all fields and economic activities. However, the Housing and Development Bank was able to achieve good results during In 2020, the combined profits reached 2 billion pounds after taxes, while the independent profits of the bank amounted to 1.8 billion pounds.


Hassan Ghanem, Chairman and Managing Director of the Housing and Development Bank, explained that the bank has succeeded in implementing its strategic plan through which it seeks to be at the forefront of commercial banks, which has contributed to the achievement of many achievements in the various activities of the bank’s banking business, which was reflected on the results of the bank’s business and its performance. Financial, and the strategic plan was implemented through several main axes, including the keenness to develop and provide banking services to meet the different banking needs of customers, expand digital services and work to develop them permanently, as the Housing and Development Bank pays great attention to financial inclusion in line with the Central Bank’s plan to enhance the efforts of Financial inclusion and transformation into society not cash, by supporting and stimulating the use of electronic payment methods, providing various digital products such as the Internet, mobile banking, electronic wallet, flossy phone, and expanding the issuance of cards to make it easier for customers.


Ghanem added that in the context of enhancing financial inclusion, the bank is keen to provide financial services to various groups of society, through geographical expansion to cover the various governorates of the republic in terms of increasing the number of branches and spreading ATM machines, in addition to raising the efficiency and development of existing branches and headquarters in line with developments. The bank’s top priority is to develop the human element and raise the efficiency of customer service through continuous training to provide the best service with the highest efficiency to our customers, which contributed to achieving a breakthrough and growth rates in all activities, especially for retail banking products during the year 2020 with a growth rate. 95%.


Ghanem disclosed that the bank achieved a remarkable growth in total assets that supported the growth of operating revenues, as total assets increased by the end of 2020 to reach 58.3 billion pounds, a growth rate of 13.2% compared to 2019. The portfolio of customer loans and facilities reached 21.4 billion pounds, with a growth rate of 8.6 % Represented by the growth of the retail banking portfolio’s balance during the year 2020 by a value of EGP 2,375 billion, bringing the portfolio's balance to EGP 4,869 billion, with a growth rate of 95%


He noted that customer deposits recorded an amount of 47.122 billion Egyptian pounds, a growth rate of 14.1%, and the bank enjoys a suitable employment rate for deposits, as the ratio of total loans to deposits reached 45%, and net income from fees and commissions increased by 30 million pounds, an increase of 9% over a year. 2019.


Thanks to the optimal operation of the bank's liquidity, the growth rate of bond and bond yields reached 14.8% compared to 2019


He pointed out that the bank achieved a capital adequacy ratio in accordance with Basel 2 requirements at a rate of 22.22% in light of the optimal application of credit policies, with the bank’s investment portfolio devoid of any risky assets, which reflects the strength of the bank’s financial position and gives the bank the necessary capabilities for future expansion.


Commenting on the results of the bank’s work, Ghanem said that these positive indicators clearly express the efficiency and flexibility of the operational policies and procedures that helped the bank to develop its operations, overcome crises, address strong market competition and take advantage of the opportunities available through its network of branches, which represent the best geographical coverage to meet the needs of the largest number of Clients at all levels.


He pointed out that the bank continues to support the real estate financing activity in its capacity as a pioneer in the field of real estate development projects. The bank also aims to provide integrated solutions through its subsidiary and sister companies that integrate their various activities with the bank’s activity in the banking and real estate field.


Ghanem emphasized that the bank seeks to achieve its clear goals in accordance with an ambitious strategy to ensure the continuation of the process of sustainable growth in all its indicators, depending on the increase in the bank's share in the banking and real estate activities.

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