Housing and Development Bank | |
Native Name: | بنك التعمير والإسكان |
Native Name Lang: | ar |
Industry: | Financial services |
Founded: | in Cairo, Egypt |
Num Locations: | 100 branches |
Key People: | Hassan Ghanem (Chairman and Managing Director) |
Services: | insurance, trade finance, credit cards, financial services, loans, real estate, mortgage |
Revenue: | £E265 million |
Revenue Year: | 2016[1] |
Net Income: | £E575 million |
Net Income Year: | 2015[2] |
The Housing and Development Bank (Arabic: بنك التعمير والإسكان) is an Egyptian bank established in Cairo on June 30, 1979, originally as a state owned enterprise (SOE), with a mandate to alleviate housing shortages by narrowing the gap between the low supply and increasing demand.[3] The bank has since been traded on the Egyptian Stock Exchange (EGX) and has the Reuters code HDBK.CA. The bank is a joint-stock company, where at the end of 2021 Egyptian SOEs owned the majority of shares (29.81% New Urban Communities Authority, 8.92% Misr Life Insurance, 8.29% by Misr Insurance, and 7.41% by the Housing Projects Fund, 5.03% Ministry of Awqaf) in addition to significant holdings by Saudi Arabian businessmen Abdelmoniem al-Rashed and Ali Dayekh through their Dubai based companies Rolaco EGB Investment LLC 10.00% and Rimco EGT Investment LLC 9.80% respectively.[4] At the end of 2022 HDBK had a market capitalization of £E9.2 billion.[5] Currently, HDB is listed as number 17 in Forbes' Top 50 Listed Companies in Egypt 2023.[6]
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