The Central Bank of Egypt has decided to offer a stake in United Bank’s (UB) shares on the Egyptian Stock Exchange and is currently working on obtaining the required approvals related to the offering, including the approvals of the Financial Regulatory Authority and the Egyptian Stock Exchange. The offering is expected to be completed before the end of the first quarter of 2025, subject to market conditions and the timely receipt of the relevant regulatory approvals.
The United Bank occupies a distinguished position among Egyptian banks backed by its diverse range of products and its customer base, which includes retail, institutions, and small and medium-sized enterprises (SMEs), in addition to Islamic banking services and other banking products supported by its highly qualified calibers. UB’s adherence to international best practices aligns with existing national regulations, that ensure its sustained growth in the region.
The United Bank and its non-banking arm operate through a broad network that includes 68 branches, 225 ATMs, and advanced digital channels and thrive through 1800 employees. The bank’s total assets increased from EGP 72 billion in 2021 to EGP 106 billion in June 2024. Additionally, the bank’s profits grew from EGP 1145 million in December 2021 to reach EGP 1742 million by the end of December 2023.
-WAM
