HDB renews Hassan Ghanem’s mandate as CEO for 2026-2029

2026-03-24 - 19:21

The general assembly of Housing and Development Bank (HDB) has renewed the mandate of Hassan Ghanem as chief executive officer and managing director for a new term spanning 2026 to 2029. The decision follows a period of notable improvement in the bank’s financial and operational performance, supported by a strategic focus on profitability, business expansion and enhanced operational efficiency. Shareholders also approved the formation of a new board of directors for the upcoming term, after the list of nominees received clearance from the Central Bank of Egypt. Basel El Hini will serve as non-executive chairperson, alongside Ghanem in his capacity as CEO and managing director. The new board includes Randa Al-Menshawy, Hani Sweilam, Alaa Farouk and Sherif El-Sherbiny as non-executive members representing the New Urban Communities Authority. Other members include Mostafa Al-Kamash, representing Misr Life Insurance; Mohamed Nabil Sarhan, representing Misr Insurance; Mohamed Al-Maazawy, representing Rolaco EGB Investment; Sherif Al-Akhdar, representing Rimco EGT Investment; Mahmoud Al-Nagdy, representing the Egyptian Endowments Authority; and Ahmed Abou Hendya, representing minority shareholders. Ghada Youssry will serve as an independent non-executive board member. The bank said the newly appointed board will support executive management in delivering its 2025-2030 strategy, which focuses on achieving sustainable growth, fostering innovation and reinforcing HDB’s position as a leading financial institution in Egypt’s banking sector.