The United Bank is to announce its 3rd Quarter of 2024 achievements with 70% growth rate

12/12/2024

The United Bank is to announce its 3rd Quarter of 2024 achievements with 70% growth rate

Ashraf El Kady- Chief Executive Officer and Managing Director, The United Bank:
•    The strong business outcomes reflect UB’s ambitious strategy.
•    UB works to enrich clients and shareholders’ banking experience.
•    The tremendous growth rate reflects UB team efforts, professionalism, and commitment along with innovation spirit.

Cairo: 12th of December 2024
The United Bank announced earlier today its 3rd quarter, 2024 achievements, with a net profit before taxes is 2.5 billion L.E., achieving 70% growth rate.
The tremendous growth reflects, UB strong performance on all banking sectors, demonstrating ambitious strategy, adopting innovative economic solutions, flexibility and professionalism of the team, and their absolute dedication to meet clients’ contemporary and future requirements.
UB has achieved 2.5 billion L.E. net profit before taxes until 30/9/2024. With a growth rate of 70% compared to the same period last year. While the net profit after taxes is 1.9 billion L.E. which indicates 78% growth rate than same period on the previous year. 
It is worth mentioning that the increasing rate of return on equity is 36% and an increasing rate of return on assets is 37%.
UB achieves a profit of 731 million L.E in its third quarter of 2024. With an estimated increase to reach 342 million L.E. compared to the same period last year, with an increase of 88%. The net income from return increased of 53% to reach 3.4 billion L.E. While the net profit through the first six months of 2024 is 1.2 billion L.E.
Gross loans and advances until 30/9/2024 grew to 12% compared to the same period of the previous year. While the clients’ deposits were increased by 13.3% to reach 57 billion L.E.
Commenting on the business outcome of the third quarter of 2024 and the increased growth rates, Ashraf El Kady- CEO and Managing Director, said that these positive results reflect UB’s devotion to provide the finest level of banking excellency, achieving an added value to UB’s clients and meeting their contemporary and future needs.
He added that we are proud of the strong growth that reflects the efforts exerted by UB team and their professionalism in presenting all banking services and products, with stable pillars and full commitment to social responsibility to enhance sustainability developments.
El Kady pointed out that this aspire, the continuous implementation of  UB’s ambitious plans to boost its position in the market and provide competitive services and products that can benefit clients and enrich their banking experiences. As well as, presenting banking and non- banking solutions and digital products.
End.