The Housing and Development Bank () is a major Egyptian bank. The bank has since been traded on the Egyptian Exchange (EGX) and has the Reuters code HDBK.CA.
History Founded 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. in 1983, the bank was listed on the Egyptian Exchange
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.
At the end of 2022 HDBK had a market capitalization of £E9.2 billion. Currently, HDB is listed as number 17 in Forbes' Top 50 Listed Companies in Egypt 2023.
In May 2023, the sale of 7.8% of the bank through the Egyptian exchange was announced.
Subsidiaries Source: Holding Company for Investment and Development (92.00%) Development and Housing Company for Real Estate Investment (60.00%) HD Financial Leasing (60.00%) Digital Transformation Systems Co (40.00%) Hemaya Security and Money Transfer Co (40.00%) El Taameer for projects and Environmental Public Services (39.00%) El Tameer Company for Financial and Real Estate Marketing (39.00%) El Tameer Company for Real Estate Investment and Development (37.00%) Hyde Park Properties for Development (36.90%) Development and Housing Company for Utilities SAE (35.00%) City Edge (33.40%) Misr Sinai Tours Co (30.00%) Obelisk Portfolio Management and Investment Funds (30.00%) Taamir Mortgage Co (24.84%) Al Tameer Company for Real Estate Management (15.70%) HD Trading Securities (10.80%) El Taamir Securitization (NA)
See also List of largest banks in Africa Banking in Egypt
References