HELLENIC DEVELOPMENT BANK

HELLENIC DEVELOPMENT BANK

COMPANY PROFILE

Hellenic Development Bank (HDB) is a Société Anonyme wholly owned by the Hellenic Republic. It operates as a special purpose promotional financial institution. Its mission is to become the trusted partner of Greek entrepreneurs, facilitate access to sources of finance for Greek enterprises of all sizes and maturity level by providing financial and non-financial tools for reducing the financial gap and coping with market failures.

HDB aspires to become the reference institution for the provision of supplementary funding for the Greek market, and as such, a growth model for the local economy. HDBs vision is to support micro, small and medium enterprises by facilitating their access to financial sources and innovative tools, to address and cover any market failures and to create an ecosystem that favors and supports SMEs.

Currently, HDB operates under a new organizational structure, which emphasizes on effectiveness, accuracy, and corporate responsibility. The current headcount consists of 120 executives, an increase of more that 100% from the previous scheme. HDBs headquarters are at 80 Michalakopoulou str. and provides a working environment and facilities suitable for the extended operations of the Bank to serve the public interest.

HDB, under its current operating model, provides Financial Instruments that aim to support the financial needs of Greek enterprises of any size and years in operation. These Financial Instruments can have the form of Guarantee funds, Co-financing Loan funds, Co-investments schemes, blended with interest rate subsidies and/or Grants.
During the COVID-19 pandemic HDB launched specific financial instruments (Capped portfolio Guarantees and interest rate subsidized co-financed loans) to support the economic activity. In 2020 HDB thrived. It was a record-breaking year with the highest revenue in the Bank’s history since we managed to consolidate and extend our position even given the difficult market environment and the negative impact of coronavirus in 2020. Under those initiatives more than 34 thousand companies benefited resulting in a loan portfolio under management of more than 8 bil. Euro. Those initiatives, accounted of more than 40% of the new corporate debt of 2020, and facilitated the increase in credit expansion after many years of diminishing rates.

For the post-pandemic era, the focus is in supporting investment activities that will have a multiplier effect in the Greek economy and to be aligned with the long-term strategy of the country regarding sustainability and environmental activities.