Friday 18 Oct
The Central Bank of Egypt (CBE) has decided to offer a portion of the shares of The United Bank on the Egyptian Exchange. The offering is expected to be completed before the end of the first quarter of 2025, subject to market conditions and regulatory approval. The bank is currently working to obtain the necessary approvals related to the offering, including those from the Egyptian Financial Supervisory Authority and the Egyptian Exchange.
The United Bank is a leading
Egyptian bank with a diverse product range and a strong customer base,
including individuals, companies, and small and medium-sized enterprises. The
bank also offers Islamic banking services and other services through highly
qualified human cadres, in addition to adhering to strong governance practices
and international best practices.
The bank has an extensive network of 68 branches and 225 ATMs, as well as advanced digital channels. With approximately 1,800 employees, The United Bank has demonstrated strong financial performance, with total assets growing from 72 billion Egyptian pounds in 2021 to 106 billion Egyptian pounds in June 2024 and profits increasing from 1,145 million Egyptian pounds in the year ended December 2021 to 1,742 million Egyptian pounds at the end of December 2023.
