Housing and Development Bank launches new service targeting wealthy clients

Bank's profit before tax increases 10.8% y-o-y, recording EGP 1.45bn in FY 2020/21

Housing and Development Bank (HDB) has launched a new service, HDB Royal, targeting wealthy clients, opening its first stand-alone Royal HUB and another 11 centres in branches across Egypt.
HDB continues on reinforcing its position as a strong competitive commercial bank. The new platform is another solid leap to this end in a remarkably short period.
Hassan Ghanem, Chairperson and Managing Director of HDB, said the launch of HDB Royal comes with the aim of providing a distinguished service to the wealthy segment of its customers and fulfilling their requirements with the highest quality and professionalism, as well as providing financial and non-financial consultancy to help them optimize their portfolios.
Ghanem indicated that HDB Royal comes as a concrete milestone reflecting the bank's transformational strategy in holistically approaching retail banking by offering its existing customers and the Egyptian market an exceptional service quality.
He added that the bank's strategic plan also relied on expanding the number of branches and developing existing branches in all governorates, in addition to increasing the number of ATMs and diversifying their locations to reach customers across Egypt, and all by providing banking services with the highest level of efficiency and quality.
Ghanem stressed that HDB put a lot of weight on the quality of its human resources, being one of the most important factors to ensure the promised standard of service offered.
He stressed that the bank succeeded in maintaining the strength of its financial position, achieving good growth rates with significant development in all retail banking services, despite the exceptional circumstances that the whole world witnessed as a result of the negative effects and the repercussions of the COVID-19 pandemic.
The financial results of HDB for fiscal year (FY) 2020/21, showed a profit before tax of EGP 1.45bn, an increase of 10.8% year-over-year (y-o-y).
Ghanem explained that achieving these fruitful results was of the ongoing development and expansion plans implemented by the bank, which had a direct positive impact on the bank's performance and reflected the strength of its financial position.