17 Housing & Development Bank (HDB)

• Executive Chairman and Managing Director: Hassan Ghanem

Sector: Banking and financial services

Market Value: $309 million Sales: $402 million

Profits: $88 million Assets: $3.5 billion

HDB was established in 1979, with a focus on housing and urban development, before transforming into a full-fledged commercial bank with 99 branches and 430 ATMs across Egypt. The bank’s total assets increased by 35.2% to $3.5 billion in 2022, while its net profit hit $88 million in 2022, an increase of 34.4% compared to 2021. The New Urban Communities Authority is the main shareholder in the bank, with a 29.8% stake. As of December 2022, the bank had 10 subsidiaries, including El Tameer for Real Estate Asset Management and Holding Co. For Investment and Development.

18 Abu Dhabi Islamic Bank (ADIB-Egypt)

• CEO and Managing Director: Mohamed Aly

Sector: Banking and financial services

Market Value: $271 million Sales: $405 million

Profits: $71 million Assets: $3.8 billion

ADIB Egypt was created in 2007 when ADIB and the Emirates International Investment Company acquired the National Bank for Development. It provides Shariahcompliant financial services across 70 branches and employs more than 2,251 people. In December 2022, the National Investment Bank sold 7.6% of its 10% stake in ADIB Egypt for $17.5 million, while the Abu Dhabi Islamic Bank-UAE purchased NIB’s remaining 2.4% stake, increasing its ownership in ADIB Egypt to 52.6%. The bank recorded $71 million in net profits in 2022, an increase of 51% compared to 2021.

19 Egypt Aluminum (Egyptalum)

• Executive Managing Director: Mahmoud Agour

Sector: Industrials

Market Value: $586 million Sales: $468 million

Profits: $81 million Assets: $420 million

Egyptalum started as a small factory with six pot rooms. Today, it has 12 pot rooms and a total production capacity of 320,000 tons annually. The company’s net profit jumped to $81 million in 2022, an increase of 8,746% compared to 2021. In September 2022, the company announced that it will offer 65% of its capital increase, totalling $300 million, to an Arab sovereign fund. It plans to add a new production line with a capacity of 100,000 tons per year along with establishing an aluminium foil facility. Metallurgical Industries Holding is the company’s main shareholder with a stake of 89.8%.

20 Crédit Agricole Egypt

• Managing Director: Jean-Pierre Trinelle

Sector: Banking and financial services

Market Value: $416 million Sales: $262 million

Profits: $78 million Assets: $2.4 billion

Credit Agricole Egypt provides corporate, retail, and investment banking services. It employs more than 2,576 people across 84 branches. The bank owns 99.99% of the Egyptian Housing Finance Company. In September 2022, the Credit Agricole Group in France increased its shareholding in the bank from 60.45% to 65.25%. In 2022, Credit Agricole Egypt’s net profit increased by 50.2% to $78 million.

21 Export Development Bank of Egypt (EBank)

• Chairman: Ahmed Galal

Sector: Banking and financial services

Market Value: $231 million Sales: $305 million

Profits: $43 million Assets: $3.2 billion

EBank started operations in 1983 to boost Egyptian exports in sectors such as agriculture, industrials, and commerce. It also provides banking services through 44 branches and employs 1,580 people across Egypt. Its subsidiaries include Egypt Capital Holding, Beta Capital Holding for Financial Investments, and the Export Credit Guarantee Company of Egypt. Stateowned banks control about 84% of EBank, with the National Investment Bank holding a 40.8% stake, Banque Misr holding 23.1%, and the National Bank of Egypt holding 19.8% as of March 2023.