The United Bank presents its 2024 achievements, announcing 2025 a turning point in its banking progress
28/12/2024
The United Bank presents 69 achievements for 2024, announcing the year 2025 a turning point in its banking sustainable growth
Cairo:28 December 2024
The United Bank announced 69 achievements in its annual harvest report 2024 on banking, economic, social and cultural levels. That hard work was crowned by 6 local and international awards.
Ashraf El Kady- Chief Executive Officer and Managing Director, The United Bank said that 2024 was a year full of challenges. Nevertheless, UB was able to achieve remarkable results and strong sustainable growth.
At the beginning of December 2024, those achievements were crowned by trading 30% of its shares in the Egyptian Stock Exchange. This step comes within the framework of The Central Bank of Egypt scheme, and the Egyptian government program, which aim to expand the capital base and allow partnerships with private sector. Besides, attracting national and international investments in the capital market.
As well as, the final formation of the Board members as per the governance regulations where Omar Muhhana has joined the board as The United Bank Chairman in November 2024. Furthermore, the female professional banking leadership represents 30% of this constellation.
El Kady stated that these accomplishments reflect our commitment, corporate vision, and ambition for sustainable development and innovation. As well as, continuous achievements, strong partnerships, investments, projects. Besides, the national initiatives on economic, social, and developmental axis during 2024.
The harvest report includes the following achievements:
First:
1- Syndication
In November 2024, UB participated in the presidential initiative “Sakkan” home for every citizen in a syndication for the Social Housing Fund and Mortgage Support. Aiming to finance social housing project for limited and low- income citizens.
Second:
Retail
1- Complied with Islamic Sharia Banking
UB launched a set of variable packages convenient with sharia provisions during 2024. That set met by significant cliental acceptance.
• In March 2024:
UB launched “Islamic three year certificate” convenient with sharia provisions. Which provides customers with distinguished profit rate up to 30% yearly under the adjustment until the final settlement is applied.
• In April 2024:
UB launched “Safwa Islamic Saving Account”, where the client can choose among different types of interest payment frequency. The saving account provides clients the freedom and opportunities to choose among different interest and payment frequency aiming to meet their needs.
• In April 2024:
UB launched “Weekly Islamic Deposit”, whereas the interest is paid weekly with multiple privileges for clients.
• In June 2024:
The launch of “Egara”, sharia provisions mortgage program.
• In August 2024:
UB initiated vehicles financing program that compliant with sharia “murabaha” provision.
• In November 2024:
UB launched corporate financing program compliant with sharia provisions.
2- Traditional banking
• In November 2024:
The mortgage sector has achieved remarkable growing indicators. Hence, the volume of funds granted reached 3 billion L.E. with a growing rate exceeding 8% and almost 14.500 clients all over the Egyptian governorates.
• UB presented a competitive and promotional service. Whereas funding vehicles up to 3 million L.E., with competitive return, and the longest repayment tenure up to 10 years. As well as, providing other banking benefits such as issuing credit card.
• In October 2024
UB launched a funding program that allows clients for up to 2.5 million L.E. cash, within a competitive return rate. With the fastest and easiest banking procedures and a long repayment tenure up to 7 years as per the client’s requirements. Offering them different kinds of repayment as per their cash flow.
• In September 2024
The mortgage sector has witnessed a range of roadmap tours within the framework of the national campaign for limited and middle income housing in a number of Upper Egypt governorate and Delta.
• UB Rakhaa Fund with accumulative cash return compliant with Islamic provisions, continued to lead the top Islamic funds indicators with an ascending indicators managed by CI Capital company.
• In August 2024
UB launched a new program to fund commercial vehicles and trucks. Aiming to expand and increase UB market share in the field of funding commercial and business vehicles. This product has attracted a new segment of clients who wants to serve in many economic sectors, with repayment tenure up to 5 years and a competitive return rate.
• In April 2024
UB launched the traditional saving account “Safwa”, with a return reaches 30% annually, with different periodic disbursement (monthly- quarterly- semi- annually, annually” as per the clients’ needs.
• In April 2024
UB launched “Weekly Deposit” with distinctive return up to 22% annually, and paid weekly.
• In March 2024
UB launched the traditional certificate with interest rate up to 30% annually, with different periodic disbursement (monthly- quarterly- semi- annually, annually” as per the clients’ needs, and provide credit facility up to 90% of the certificate value.
Third:
The non- banking financial services
United Finance; the non- banking financial arm for The United Bank, has expanded its business volume in the market in leasing, factoring, financing lease, and mortgage. Besides, it maintained for 7 years in row the occupancy portion 100% of the administrative building “Cairo Center”, the first administrative building located Down Town, Cairo.
Fourth:
In the digital banking services field
• Activating the system of instant payment network on UB digital channels (internet banking- mobile banking- digital banking). Those channels allow the clients to make instant transactions 24/7. It enables clients to transfer to mobile number (bank account/ digital wallet/ IPA / bank account number/ bank card number)
• Conducting the soft launch inspections for the new edition of UB digital wallet V3 Unified Build, which is distinctive by: availability to charge the electricity pre- paid cards using NFC technique, deducting from the mobile wallet account- naming the recipient name and number- confirming data before making the transfer from the digital wallet.
• In July 2024
UB launched more than 20 services especially in internet banking and mobile banking. Which reflects UB continual commitment to meet its client’s needs. As well as, providing set of digital services that affects the life of the citizen, support the state and CBE towards achieving financial inclusion and digital transformation.
• In September 2024
UB conducted a series of field tours to publicize its experience in electronic litigation system, its importance, and its applications. Those tours resulted in contracting with a number of agencies to organize induction-training courses in electronic litigation process and digital economic cards.
• UB is proceeding with the procedures- automaton process, and activating AI applications to reach around 75%, aiming to facilitate things for work team and clients, and to rationalize consumption within the framework of UB plan to transform into eco- friendly practices. Furthermore, the ongoing development of technical infrastructure and security improvements.
Fifth:
National Initiatives Field
UB participated in a number of national initiatives led by the government and The Central Bank of Egypt:
1- Financial Inclusion Initiative:
Under the auspices of CBE, UB organized six Financial Inclusion campaigns in 8 governorates: Cairo, Giza, Sharkia, Gharbia, Damietta, Dakhalya, Menya, and Alexandria. The campaigns include financial awareness and financial literacy in its program. The campaigns target special societal segment: youth, women, low income and People with Disabilities.
• An integrated societal campaign for financial inclusion within “Decent Life” initiative. Which included a number of shuttle tours in 6 governorates: , Giza, Sharkia, Gharbia, Damietta, Dakhalya, Menya.
• Collaboration with a number of educational institutions and universities: Kafr El Shiekh University, El Mansoura, Port Said University, Banker’s lounge Academy, El Shorouk Academy.
• Collaboration with a number of civil society institutions: Gozour institution, Belady Assembly for sustainable development, Forsan El Hadidy for development and care for breadwinner women, Akhtar osrety Assembly that cares for the most needed families/ low- income families.
2- Participation in the national initiative to spread awareness against cyber-attacks.
• UB launched an integrated awareness campaigns on cyber security and the fundamentals of anti- attacking, especially with the increase of digital transactions and expansion of financial inclusion base, either through awareness campaigns, or through security application, and client- data security mechanisms.
• UB was granted for the second year in row the award of Payment Card Industry- Data security standard2024 (PCI-DSS)v4.
3- Nile Pioneers Initiative:
UB participated in Nile Pioneers with two programs. The first is the program assigned for Business Development Center to provide non- financial services and consultations for entrepreneurs, innovators, and start- ups, small and medium enterprises. The second program is the value chain program in textile and furniture industries. For six long years, UB exerted exceptional efforts to support entrepreneurs. UB provided 14,799 non- financial and consultant services. In order to benefit more than 4,318 entrepreneurs and enterprises. Many of the services provided were about assistance with preparing feasibilities, credit- file preparation, licensing, and supporting digital transformation for already established enterprises. UB provided full support and banking finance to a number of 493 entrepreneurs. Through the 3 business development centers in Elmenya, Giza, and Dakhahlya. Besides, the 68 UB branches are all committed to serve entrepreneurs, start- ups, and small enterprises. In order to provide banking and technical support and qualify them to help them play their economic and vital social rules, and to raise rates of integrated development as per Egypt vision 2030.
• UB launched a textile-industry development program, within the framework of Nile Pioneers initiatives. Aiming to increase the effectiveness of companies operating in the sector, and the ability to export and being available on local and international platforms. Along with working on increasing the enterprises capability to manage, quality- control , expenses control, and to improve report system for production lines.
• A number of 390 persons received the training from 24 companies. The focus was on start- ups, Egyptian innovative ideas, especially youth. A specialized program for settling furniture industry, improving the efficiency of quality, and production, preceded it. Aiming to increase the ability to compete in local and international markets. The program was for 10 month for 33 Egyptian companies. The program targeted the increase of the volume of sales. Which exceeded 200 million L.E.
• In December 2024
UB together with The Career Development Center in Kafr El Sheikh University signed a collaboration agreement aiming to qualify University graduates with work market skills.
Sixth:
Micro, Small and Medium Enterprises MSMEs
• In July 2024 UB announced curing 20 faltering factories crisis and driving them back into the track of operation and production. UB has conducted a set of innovative mechanisms and tools to eliminate the crisis. That is in line with the Egyptian state and The Central Bank of Egypt plan towards eliminating the crisis facing faltering factories and deepening local investments and attracting foreign ones to increase production and export. The thing that enhances economic development plans as per 2030 vision.
Year 2024, witnessed the completion of development plans and schemes aiming to improve MSMEs methodology. Through providing a set of specialized finance solutions, digital services, and technical consultations. While maintaining the growth sustainability and profits.
Moreover, UB encourages the transition process into a cash- less society. Through raising the financial awareness and increasing the societal awareness with digital work mechanisms. UB intensified its marketing and media activity towards this transition process and operating corporates with UB Internet banking for corporates. As well as, wealth and cash management.
Micro Finance Field
UB presented sets of specialized funding solutions for the micro-finance sector, especially in agriculture and value chain development. Which is reflected in creating new job opportunities for youth and women in the agricultural field. Such as packaging, food transportation, and agricultural products.
Seventh
Launching 26 green initiatives and projects in the following fields: green finance for individuals and corporates, societal responsibility in health, education and community development, and digital transactions.
Eighth
The completion of UB premises in New Capital, with investments exceeded 2 billion L.E. as a pre- step before transition it is headquarter over there. Aiming to proceed with our path of excellence, and journey of success and societal partnerships to maximize the urban expansion and the Egyptian Economy as per 2030 Egypt vision.
Ninth
Green Media Field
UB believes in the importance of media role and culture in public opinion industry and maximizing institutions performance. UB depends on ongoing improvement strategy and boosting effective communication mechanisms. As well as, empowering present leaderships and create a new generation of young leaderships. UB devoted special attention to women as one of the most important effective powers for development and improvement process.
UB launched many internal and external media campaigns. That aiming to boost corporate identity, settling corporate values, and digital transformation process. Furthermore, UB made many external media campaigns that boost the Egyptian identity, human values, and social solidarity principles. That happens via creating successful work partnerships with all media channels, either traditional or digital, and of course social media platforms.
• In March and September 2024
UB organized special events for Laky forum members. These events discussed many important issues. Such as rationalizing consumption imitation, green summer, and deepening the culture of knowledge and its reflections on healing the daily pressure on women.
• In April 2024
For the fifth year in row, UB organized the annual event “Big Family” as the biggest virtual and interactive Iftar for 1900 of its teamwork in 18 governorates all over the Republic. That was through the technique of video conference, which linked Cairo with all other governorates, and for ongoing five hours.
• In April 2024
Continuing to support talents, UB developed its work team innovative talents via “UB Got Talent”. In order to boost their cultural, and sportive identity for the corporate. As well as, to build an integrated societal community through discovering and qualifying the innovative to accomplish sustainable development.
• In April 2024
For the sixth year, distinctive performers received the UB Excellency Award. They exceeded 80 members of the work team.
• In August 2024
UB launched the second edition of “Digital Influencers” media campaign via using the latest applications for modern media theories. Through digital media influencers on social media platforms and a number of electronic websites. The campaign aims to spread awareness with digital services via “Your Bank Online” that works 24/7, comprising Mobile Banking- UB Digital Wallet- and Internet Banking.
• In September 2024
UB released its first advertisement made using AI technique. As a part of the integrated corporate strategy towards enhancing innovation and deepening the use of modern technologies in communication with the public. It was in Arabic and English languages. The ad presents an innovative watching experience thanks to AI techniques, and designed content made especially to achieve the highest degrees of mass influence. Moreover, using the ad to analyze the following public data. In order to conduct a meticulous understanding for the present and future clients’ needs, aiming to increase the effectiveness of the marketing and media campaigns. Hence, achieving better results.
• In October 2024
UB collaborated with a sign language expertise to make a session for UB work team to teach them sign language. Within the framework of UB campaign directed to enhance the financial inclusion, banking and digital services presented to people with disabilities.
Tenth
Empowering youth and investment in human powers
• In January 2024
Encouraging UB youth on a big scale, especially High Fliers Program with its four classes graduates to make a number of developmental and banking projects.
• In July and August 2024
UB launched UB Transformers Innovation Competition, within the summer internship program for Egyptian university students. Aiming to encourage innovation among youth.
• In November 2024
UB opened new horizons before innovative minds among its work team. By participating in the research competition, under the auspices of Egyptian Banking Institute, and organized by Arab Media Center. It was about using artificial intelligence to enhance cyber security. UB won the second place.
Eleventh:
Corporate Social Responsibility
• In March 2024
UB inaugurated “Nag El Gosoor” village in Luxor- after rebuilt. One of Decent Life initiative villages- with the cooperation of Good Makers “Sonaa El Kheir” institution for development- a member of the national alliance for non- governmental developmental work. A series of rebuilding works have been made to a number of 24 worn houses. In order to empower the village residents economically, UB provided 24 fishing boats with motors. Many non- traditional job opportunities were created to suit the nature of surroundings of the targeted families. In addition, providing a package of integrated medical services with high quality for students in village schools.
• On education and health axis:
o Supporting 57357 Children Cancer Hospital.
o Supporting non- able students to pay schooling fees on South Sinai.
o Packaging food containers in Holy Ramadan.
o Misr El Kheir convoys through participating in PWD convoys, in collaboration with Misr El Kheir in North Sinai through examining (ophthalmology- orthopedics- mycology- ENT-urology- surgeries). The convoy included an integrated pharmacy that contained all kinds of medications needed by beneficiaries (glasses- analysis- X-rays- medical surgeries- ear pieces- prosthetic equipment- wheel chairs).
o Continuing to provide moral and study support for South Sinai students via organizing a sports day.
o Supporting Ahl Misr Hospital for burn victims, either by treatment or by psychological or social support, as per international quality standards.
o Continuing cooperation with El Orman institution to support Dar El Orman hospital in Luxor.
o Continuing to support Baheya Foundation for breast cancer.
o Continuing to provide blankets for people in Sinai, Upper Egypt, Elwadi Elgdeed, and Saint Catherine. To protect them from coldness.
o UB continual support for Holy Quran competition in 20 governorates all over the Republic.
o Directing support for Specialized Sheikh Zayed Hospital for cancer.
o Providing scholarships for some students in Zewail University for Sciences and Technology.
o Supporting Asdaa Association for hearing disabilities, till winning with the first place.
