About IDB Bank
The Bank's History and Development
The Industrial Development Bank was established in 1947 under Law No. 131 of 1947, with the aim of supporting and financing industrial projects in Egypt. The bank has undergone numerous structural developments over the past decades to enhance its role in supporting economic development.
- 1975: Ministry of Finance Decree No. 65 of 1975 was issued establishing the Industrial Bank. 1976: Its name was changed to the Industrial Development Bank under Ministerial Decree No. 144 of 1976.
- 1991: The word "Egyptian" was added to its name, becoming the Industrial Development Bank of Egypt under Law No. 214.
- 2008: The Egyptian Workers Bank merged with the Industrial Development Bank to become the Industrial Development and Workers Bank of Egypt.
- 2018: The Central Bank of Egypt approved changing the bank's name to the Industrial Development Bank (IDB), reflecting the bank's drive for modernization and expansion.
- In 2024, Banque Misr injected EGP 4.5 billion into the bank's capital, increasing its stake to 85.04%. This strengthens the bank's position as a leading financial institution supporting industrial and development projects.
The Bank's Role in the Egyptian Economy
The Industrial Development Bank plays a pivotal role in supporting industrial projects and contributing to the implementation of national development plans through:
- Financing large, small, and medium-sized industrial projects.
- Supporting and re-starting troubled factories to boost local production.
- Providing financing solutions for major national projects and government initiatives.
- Promoting Egyptian exports by providing the necessary financing to producers and exporters.
- Supporting digital transformation and banking innovation through the development of electronic platforms and the launch of a new data center in Borg El Arab, Alexandria.
Shareholder Structure
According to the latest update, the bank's ownership structure is distributed as follows:
- Banque Misr 85.04% - Other entities 14.96%. The bank seeks to strengthen its position as a leading financial institution by:
- Expanding its customer base for individuals and companies. · Developing digital solutions and improving electronic services.
- Promoting investments in development and industrial projects. · Achieving excellence in providing banking services in line with Egypt's Vision 2030.
Since its establishment, the Industrial Development Bank has been a key partner in supporting the Egyptian industry and economy. With recent developments and a capital increase, the bank is better able to achieve its strategic objectives and provide added value to its clients and development partners.
