The United Bank General Assembly Approves 2024 Financial Statements and Discusses  Future Growth and Expansion Plans 

06/04/2025

The United Bank General Assembly Approves 2024 Financial Statements and Discusses 
Future Growth and Expansion Plans 

Cairo: April 6, 2025 

The United Bank General Assembly was held last week, chaired by Omar Mohanna, Chairman of the Board, and attended by Ashraf El Kady, Chief Executive Officer and Managing Director, along with the Board of Directors members and shareholders. The meeting was convened to discuss The United Bank's 2024 financial statements, approve the financial status, and present strategic plans for growth and expansion in the market
. 
The meeting featured the presentation of the following key areas: 
1.    2024 Financial Performance: 
●    The General Assembly ratified The United Bank financial statements. 
●    The dividend distribution list for the fiscal year ending December 31, 2024, was approved. 
●    The financial statements revealed that UB achieved pre-tax profits of 3.61 billion Egyptian pounds in 2024, compared to 2.28 billion pounds in 2023, representing a growth rate of 58%. 
●    Net profit after taxes reached 2.73 billion Egyptian pounds by the end of 2024, compared to 1.7 billion pounds by the end of 2023, with a growth rate of 60%. 
2.    Future Expansion Plans: 
●    UB announced its expansion plans in the local market, which include opening new branches in industrial and residential areas across several governorates. 
●    The bank will also inject new investments into financial technology services. 
●    Furthermore, UB will introduce packages of innovative banking solutions and credit products aimed at increasing the customer base, enhancing the economic role of small, medium, and micro-enterprises, and promoting innovation. 
●    The bank will also expand financial inclusion services and improve customer experience. 
3.    Deepening Community Engagement: 
●    UB emphasized its commitment to deepening its community role by launching social responsibility programs, particularly in the fields of education, health, and community development. 

Omar Mohanna, Chairman of the Board, affirmed that The United Bank continues to achieve positive results due to its strategy of targeting sustainable growth. He also emphasized the bank's commitment to providing distinguished banking services and solutions that meet the needs of customers and the aspirations of shareholders.
 
Ashraf El Kady, CEO and Managing Director, stated that the positive results achieved by The United Bank this year reflect the strength of the institution's strategy and future vision. He expressed his satisfaction with the outstanding performance of the team during the past year and their commitment to achieving the best results and continuing to provide the best banking services to all individual and corporate customers. 

He also affirmed the bank's continued policy of encouraging innovation and expanding innovative financial solutions, digital services, and community initiatives to provide advanced financial services that align with rapid digital changes. 

The meeting concluded with expressions of gratitude to Omar Mohanna, Chairman of the 
Board, Ashraf El Kady, CEO and Managing Director, as well as the members of the Board of Directors, the executive management, and all team members for their outstanding efforts in achieving unprecedented growth rates in 2024. They affirmed UB's commitment to continuous development and innovation to enhance its competitive position in the market, focusing on sustainable growth, deepening the role of financial technology, and increasing customer and shareholder confidence.