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Housing and Development Bank spends EGP 20m in CSR activities - Daily News Egypt

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Housing and Development Bank spends EGP 20m in CSR activities

Bank donated EGP 10m to Tahya Masr Fund

6-2The Housing and Development Bank participated in developing informal areas in Helwan, in partnership with the Federation of Egyptian Banks (FEB) with amount of EGP 5m, according to the bank’s CEO, Fathi Sebaey Mansour.

Mansour said the bank donated EGP 10m to the Tahya Masr Fund. He added that the bank has several CSR activities, including providing social solidarity to the physically disabled and the visually impaired, as well as orphans and women.

“The bank, in cooperation with the EFB, formed a CSR committee to study the community needs and proposals, follow-up on the activities, and communicate with government agencies to carry out the activities,” added Mansour. “The bank specified a rate of 7% of its revenues, which amounted to EGP 20m, to be spent on CSR activities.”

He confirmed that the bank has educational activities, like creating student competitions, seminars and scientific researches, whilst also providing support for gifted students.

The bank’s CSR activities include medical activities, such as paediatric, oncology, liver and kidney units. Besides this, the bank is also working towards equipping schools, supporting young entrepreneurs and supporting craftsmenand small manufacturers.

Donations and contributions are deducted from the bank’s taxes, but there are many activities undertaken by the bank financed through money not deducted from tax. This, for example, is found through the support given to gifted students. In addition to this, support is given to SMEs and small-scale manufacturers, according to the CEO.


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