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Press Statement

 

 

 

- In the endeavor of the Board of Directors of the Housing & Development Bank to maximize the investment return to the shareholders of the bank, in completion to the policy of the Board of Directors towards developing and improving the general performance of the bank and in agreement with the policy of the Central Bank to create strong banking entities, increase the financial comprehensiveness and provide distinct banking services;

 

- The Board of Directors of the Housing & Development Bank decided in its session held on 15 Feb. 2017 to study the possibility of splitting the share of the bank into a company for banking activity and another company for real estate activity.

 

- The Board deemed studying this split as a result of the variation of the nature of the banking activity from real estate activities; the matter that affects the evaluation of investors and financial analysts to the operational and financial performance of the bank.

 

- The Housing & Development Bank is considered among the pioneering banks in the banking Sector. It had witnessed noticeable development during the last ten years in banking and real estate activities, where the final accounts witnessed a noticeable growth at the level of assets, the return on equity and net profit. The performance of the bank was considered among the best five banks in the performance indicators.