Egypt's Central Bank Plans United Bank IPO For 2025

The Central Bank of Egypt is in the process of putting a portion of the shares of United Bank (UB) up for sale on the Egyptian Stock Exchange. This move requires the green light from both the Financial Regulatory Authority and the Egyptian Stock Exchange.

If all goes according to plan, and market conditions are favorable, the sale is anticipated to be finalized by the close of the first quarter of 2025. This is contingent on receiving the necessary regulatory approvals without delay.

United Bank boasts a robust presence in the Egyptian banking sector, thanks to its varied product offerings and a wide-ranging client base. It serves retail customers, institutions, and small and medium-sized enterprises (SMEs).

Additionally, it provides Islamic banking services among other financial products. The bank is committed to robust governance and adheres to international best practices and local regulations. This ensures it continues to perform well and grow sustainably.

Operating a comprehensive network, United Bank and its non-banking division cover a vast area with 68 branches and 225 ATMs. They are also supported by advanced digital platforms and rely on the expertise of 1800 employees.

From 2021 to June 2024, the bank saw its total assets jump from EGP 72 billion to EGP 106 billion. Furthermore, its profits increased significantly, from EGP 1145 million in December 2021 to EGP 1742 million by December 2023. This financial growth highlights the bank's substantial progress and its pivotal role in Egypt's banking industry.