MENA Newswire News Desk: The Central Bank of Egypt has announced plans to offer a portion of United Bank’s shares on the Egyptian Stock Exchange. The offering, intended to expand investor participation, is expected to be completed by the end of the first quarter of 2025, subject to market conditions and the timely receipt of approvals from the Financial Regulatory Authority and the Egyptian Stock Exchange.
United Bank has a strong position in Egypt’s banking sector, providing a diverse range of services to retail customers, institutions, and small and medium-sized enterprises (SMEs). The bank also offers Islamic banking services and other products supported by its highly skilled workforce. United Bank’s adherence to international best practices and sound governance rules has helped the institution maintain solid performance and sustainable growth.
With a network of 68 branches and 225 ATMs, United Bank has expanded its reach through advanced digital channels and employs over 1,800 staff members. The bank’s total assets surged from EGP 72 billion in 2021 to EGP 106 billion by June 2024. Profits also increased significantly, from EGP 1.145 billion in December 2021 to EGP 1.742 billion by the end of 2023.