Housing and Development Bank Opens New Branch in New Fayoum City, Expanding Network to 99 Branches
Supporting the State’s Urban Expansion Plans and Strengthening Its Presence in New Communities
Housing and Development Bank (HDB) has announced the opening of its new branch in New Fayoum City on Wednesday, 4 November, bringing its total branch network to 99 branches across Egypt.
The opening ceremony was attended by Yehia Abou El-Fotouh, CEO and Managing Director of Housing and Development Bank; Mohamed Gamil, Deputy CEO and Managing Director; and Walid Matar, Assistant Managing Director for Retail Banking, Mortgage Finance and Branches, alongside a number of the bank’s senior executives. The inauguration followed an inspection tour of several bank branches across the governorates of Beni Suef and Fayoum.
The new branch opening comes as part of HDB’s strategy to expand its geographical presence across Egypt through the carefully planned development of its branch network and its entry into promising areas experiencing urban and economic growth. This expansion aims to reach broader customer segments and provide integrated banking services and solutions that meet their needs.
The move also aligns with the Central Bank of Egypt’s efforts to promote financial inclusion and reflects the bank’s commitment to supporting the state’s urban and economic development plans. It further reinforces HDB’s role as an active banking partner in supporting economic and investment activities and advancing sustainable development.
Strengthening the Bank’s Presence in New Urban Communities
Commenting on the opening, Yehia Abou El-Fotouh, CEO and Managing Director of Housing and Development Bank, expressed his pride in the bank’s continued implementation of its ambitious expansion and development plans.
He emphasised the bank’s commitment to strengthening its geographical presence and expanding the availability of its banking services and products, while maintaining high standards of excellence and efficiency for different customer segments. This approach supports the bank’s strategy and vision of becoming one of the leading banking choices in the Egyptian market through innovative products and services, improved customer service, and stronger customer trust.
He added that opening the New Fayoum City branch reflects the bank’s commitment to keeping pace with the state’s urban development plans and strengthening its presence in new urban communities. Through a comprehensive range of banking products and services, the bank aims to meet the needs of these communities and support their economic activities, contributing to investment growth and the achievement of comprehensive and sustainable development.
Abou El-Fotouh also noted that New Fayoum City, as one of Egypt’s third-generation cities, has promising potential to attract investment and economic activities, creating opportunities for future growth and expansion. As the city develops, demand for banking services and solutions is expected to increase to meet the needs of residents and investors.
He stressed that the bank is keen to keep pace with this development by expanding its presence in new cities, in line with its ambition to strengthen its position as one of Egypt’s largest comprehensive commercial banks.
A Carefully Planned Expansion Strategy
Mohamed Gamil, Deputy CEO and Managing Director of Housing and Development Bank, explained that implementing well-planned expansion strategies in promising areas is among the bank’s key priorities.
He noted that selecting new branch locations is based on studying economic developments, analysing opportunities across different areas, and making use of data and analytical indicators. This approach helps ensure optimal geographical coverage, improve the efficiency of the bank’s network, and make banking services accessible to the widest possible customer base.
Gamil added that these plans aim to expand the bank’s customer base, reach new segments, and facilitate access to its banking products and services. They also support the efficiency of the branch network, sustainable growth, and the bank’s competitive position in Egypt’s banking sector.
Modern Facilities and Enhanced Customer Experience
Walid Matar, Assistant Managing Director for Retail Banking, Mortgage Finance and Branches at Housing and Development Bank, explained that the new branch was designed and equipped in accordance with the latest engineering and construction standards. It also features the necessary technological infrastructure to ensure efficient operations and facilitate service delivery.
He added that the bank is committed to providing qualified and well-trained branch employees while continuously developing their professional skills and capabilities. This enables them to deliver banking services efficiently and professionally, respond promptly to customer needs, and maintain high standards of quality and service.
Matar further highlighted the bank’s commitment to creating a modern banking environment that keeps pace with rapid developments in the banking sector. The new branch will offer a diverse range of banking products and services designed to meet the needs of different customer segments, improve service standards, and enhance the overall customer experience.
