The United Bank presents 2020 achievements
Cairo: December 2020
In the Egyptian culture, there is a differential distance between saying and doing, between the theory and the implementation.
This area does not find anyone to cross and achieve the effectiveness that the public expects from the decision maker, except in rare cases. The United Bank is one of these cases.
This banking institution, whose leadership has known, how to translate its convictions with the techniques and mechanisms of digital banking, as the present and the future time proves the success of the system, not only at the local level, but also at the global level, especially in light of the circumstances of the spread of the emerging Corona virus and the resulting major economic challenges threatening many countries in the world.
The year 2020 was not easy for entities and institutions, especially the world's economical ones, but The United Bank was able to manage the file of the global spread of Corona virus crisis with high professionalism, which made it a model to be emulated, whether internally or externally.
The United Bank was able to record a series of local and international achievements. It won 6 important local and international awards. Thanks to the efforts of its sons and their dedication to work, the United Bank was able to reach its desired goals.
In an interview with Ashraf El Kady, Chairman of The United Bank, about the most important points of The United Bank's achievements for the year 2020, he said:
First: The Institutional Agreements:
The United Bank was able to conclude a number of agreements with important local economic institutions as well as civil society institutions aiming to provide banking services, technical advice and modern banking technologies, and which aims in the first place, to give a value added to the Egyptian citizen, and to improve his/her life, according to the vision of the Egyptian state and The Central Bank.
1- Agreements in the field of financial transaction engineering services for companies
In January 2020 - The United Bank issued a letter of guarantee for the first securitization process in favor of Madinet Nasr Housing and Development Company. This is part of The United Bank's continuous efforts to support Egyptian companies, maximize their financial capabilities, and work to open new horizons for investment in the capital markets and the Egyptian Stock Exchange.
2- Agreements in the field of real estate financing - according to the initiative of the Central Bank of Egypt
• In July 2020 - The United Bank signed a cooperation agreement with the Social Housing Fund and real estate financing support, worth 2 billion Egyptian pounds. This is part of the initiative of The Central Bank of Egypt and based on the bank’s national role to provide adequate housing and a decent and stable life for the Egyptian citizen.
• In October 2020 - The United Bank signed an agreement with the Syndicate of Journalists to finance the purchase of 1108 housing units for the media elites. According to the initiative of The Central Bank of Egypt.
3- Agreements in the field of banking services and digital transactions:
• In October 2020 - The United Bank signed a cooperation protocol with the Federation of Chambers of Commerce to provide digital banking and financing services to 5,000 members of the Chambers of Commerce aiming to maximize the Egyptian economic growth index and developing local investments.
Second: Banking solutions - outside the box
During the year 2020, The United Bank was able to achieve the difficult equation between 5 criteria for the sustainability of institutional growth that are innovation, continuous development, training, work and increased productivity, and between the exploitation of available resources to provide a successful institutional system capable of market competition and the acquisition of a larger segment of the Egyptian banking transaction market.
1- Out-of-the-box solutions - in the field of national initiatives
2020 witnessed - The United Bank has a strong participation in a number of national initiatives led by the government, The Central Bank of Egypt and the National Council for Payments. These initiatives aim to fully transform to a cashless society and achieve financial inclusion. Egypt has also turned into a regional center in financial transactions, the stock exchange, financial and business markets in the Middle East and Africa, including:
• Four national financial inclusion campaigns targeting specific societal groups: Women, Youth, and Savings, in each of March, August and October 2020, as well as the comprehensive social campaign for financial inclusion last April, and for the fourth year in a row.
• Participating in the national initiative to support the stumbled clients which will reflect positively in strengthening the local industry, increasing the production, eliminating the unemployment, easing the burden on the citizens, and supporting the stumbled companies to work again. Also, reducing bank allocations to bad debts, which increase the ability of banks to direct these funds in favor of financing the small, medium and micro projects sector, consequently, increasing the fund operating ratios for the sustainable development plans of the Egyptian state.
• Participating in the national campaign for real estate financing for low and middle-income housing, which contributes in moving the market in more than 35 industries based on the real estate sector and reducing inflation, as well as creating the wealth of the citizen for the United Bank to become among the top 10 banks that provide real estate financing services in the Egyptian market.
• Participating in the national campaign for digital transactions by raising awareness of the services of the "Your Bank Online” package, from Internet banking, Mobile banking, digital wallet and ATMs, as well as the awareness of the use of the national card "Mezza" in conducting all financial transactions, as well as the governmental and non-governmental payments.
• Launching the International Bank Account Number IBAN system which comes in implementation of the Egyptian state’s vision 2030 and the central bank’s strategy towards transforming Egypt into a regional center for financial and business markets in the Middle East region. This contributes in maximizing the Egyptian exports opportunities to the foreign markets and increasing the financial flows for Egyptians working abroad, as well as facilitating the entry of foreign investors.
2- Out-of-the-box solutions - in the field of small, medium and micro enterprises (MSMEs)
The first sector that witnessed the banking development and financing management was the small and medium projects sector by providing a package of specialized financing solutions, digital services and technical advice while maintaining sustainable growth and profits despite the negative effects of the Corona pandemic on the global economy.
As well as encouraging The United Bank to transform to a cashless society by working to spread the culture of financial transactions and increase societal awareness of the mechanisms of digital work where the United Bank has intensified its media and marketing activities for the transformation process and working with Internet banking technology for companies, wealth and cash management.
As for the field of microfinance, 2020 witnessed the strong entry of the United Bank into this promising sector with a series of specialized products targeting specific groups, including youth and women aiming to increase the productive base, achieving the financial inclusion, and reducing the unemployment rates, where the United Bank allocated 500 million pounds for microfinance.
In October 2020 - The United Bank participated with a package of microfinance in the annual "Our Heritage" handicrafts exhibition.
The United Bank was not satisfied at this point on providing the necessary financial financing for this sector, but also worked on developing value chains, specifically in the field of agricultural production which has a great impact in creating new work opportunities for youth and women in the field of agricultural products, such as: packaging, transportation, food marketing and agricultural products.
The United Bank is currently working on linking value chains with large factories to provide technical support, in addition to financing. This contributes to modernizing farming methods, collecting agricultural products, and maintaining safety standards and compliance, as well as contributing to the elimination of the informal economy.
3- Out-of-the-box solutions - in the field of expanding digital and traditional branches and Nile Pioneers centers
• Equipping The United Bank building in the new administrative capital, with investments exceeding 2 billion Egyptian pounds, in preparation for the relocation in 2021, is a continuation of the path of success and community partnership to maximize the Egyptian urban and economic expansion in accordance with the Egyptian state vision 2030.
• Inaugurating the second "Nile Pioneers" Center, The United Bank - Menya Governorate.
The United Bank continues to support emerging companies and the creative ideas of Egyptians, especially young people. So it opened the second center for Nile Pioneers to serve the Upper Egypt region in the Menya Governorate. That was after the opening of the first center in the Delta region, the Dakahleya Governorate, in July 2019.
The United Bank, through the Nile Pioneers Initiative of The Central Bank of Egypt, provides technical and financial support to a number of small and emerging projects in cooperation with the Egyptian universities such as: the Nile University and the Mansoura University. The most prominent of which are 5 projects in the field of dairy production and plastic processing. Also financing the first Egyptian-made, environmentally friendly electric car, as well as financing talking glasses that help the blind people in their daily lives.
• Opening of a third digital center for digital banking services with international technologies
During 2020 - The United Bank opened a third digital banking services center for customers, in the Fifth Settlement in New Cairo to join the two branches specialized in digital services in the Dokki area - Giza Governorate and the Cargo Mall branch - in the Sheikh Zayed area - in 6th of October City.
The opening of the third center for digital services comes as one of the innovative solutions for The United Bank so that the branch operates with full capacity during the normal working hours, and then turns into an electronic branch that provides digital services to its customers 24 by 7. A number of branches are being developed to operate according to this feature. The United Bank provides, through its digital centers, a package of personal banking services and solutions to customers under the name of "Your Bank Online ", from: Internet banking, digital wallet, bank mobile and also ATMs.
• Inaugurating 3 new branches of The United Bank
2020 also witnessed the inauguration of The United Bank 3 new branches. It was added to its chain of branches spread all over the Republic, bringing the number of branches to 65 branches in Damietta Governorate - New Damietta City - and Dekerness Branch - Dakahleya Governorate, as well as the Fifth Settlement Branch in New Cairo.
4- Out-of-the-box solutions - at the level of innovations and applications for new digital banking solutions
• In February 2020 - The launch of the new version of the digital wallet
The United Bank was one of the first banks to launch the digital wallet in late 2018. The new version has the feature of a QR Code Scan, as well as the Request to Pay feature, which is widely accepted among the customers, whether dealers or users since it reduces financial transactions and contribute in reducing cache circulation and achieve the financial inclusion.
• March 2020 - The United Bank launched many services and updates for a number of the digital products and cards, including: The launch of the contactless card - The launch of the self-activation service on Internet banking and mobile banking services.
• April 2020 - The United Bank launched 3 new digital services and an awareness campaign: The Cards’ Security Code Service aiming to a comprehensive and accurate security process for the "online" shopping of the customers via the Internet.
The same month also witnessed the launch of The United Bank, in cooperation with e-finance, of competitive advantages for electronic government payment programs.
The United Bank also launched a media campaign to encourage customers to deal cashless, especially in light of the precautionary measures to prevent the spread of the new Corona virus.
In the same month, The United Bank launched the service of self-purchase of savings certificates from ATMs.
• And in November 2020 - The United Bank launched the contactless payment feature through ATMs and cards of all kinds.
The United Bank announced in November 2020 that the number of its customers subscribing to the services of "Your Bank Online" has reached 27 thousand customers.
5- Out-of-the-box solutions - in the field of social responsibility
The United Bank social responsibility sector ranked the fourth among the financial institutions and banks in El Borsa Newspaper Annual Index 2020. The following are the bank's efforts in the field of social responsibility:
• March 2020 - Students of the Faculty of Engineering, Department of Architectural Engineering, Cairo University won - the first and second prize in the International Innovative Urban Farm 2020 competition held in Italy 2020 with the support of The United Bank as part of its efforts towards green economy and environment applications under the slogan "Get Green"
1. The Meet Million Seha (100 Million Health) National Campaign
The United Bank participated in the 100 million health campaign with its 65 branches under the patronage of the President of the Republic to detect non-communicable diseases where the team of the United Bank, their families, the support services and all the subsidiaries of the bank, as well as customers in a number of branches and departments, were examined.
2. The initiative "Our children are in our eyes"
The United Bank and philanthropists, in cooperation with the Ministry of Education and Technical Education, examined the students of a number of schools of the Republic as part of the "Our children are in our eyes " in Cairo, Fayoum, South Sinai and Sohag.
3. The Holy Quran annual Competition
The United Bank continues to conduct the annual Holy Quran competition in 13 governorates across the country. This year, South Sinai governorate headed by General Khaled Fouda joined the competition's activities, in addition to the continuation of the program of caring for the first ten keepers of God’s Book, socially and scientifically, on the different governorates of the Republic.
4. Good Will Auction:
In July 2020, the bank launched the Good Will Auction campaign, where a manager donated the price of a Hand Made plate in the Good Will Auction for a catheterization operation at the Good Makers Foundation.
5. Participating in sponsoring the wedding of 25 incapable girls from South Sinai Governorate, in cooperation with a number of private institutions and the Directorate of Social Solidarity.
6- The United Bank's efforts to face the Corona pandemic
In the media: Spreading national awareness: In mid-March 2020 - The United Bank launched a major national campaign for comprehensive awareness of the emerging corona virus.
The campaign included 20 precautionary measures to prevent the spread of the virus in the 65 branches of The United Bank and spread throughout the republic, including: Commitment to the disinfection and sterilization process, as well as placing guiding signs in the branches and in front of automatic teller machines for the necessity of keeping distances between the customers each other and between the work team, as well as sterilization and disinfection of the 220 ATMs covering most of the Republic.
The United Bank has also fortified the work team in various branches and governorates with a protection mask and the application of the remote work system using the latest digital technologies, as well as following the rules regarding the typical distances between colleagues within departments or branches and moving to alternative sites to prevent gatherings; in addition to using remote heat detector for all colleagues in branches and departments.
In addition, launching a media campaign to raise awareness and change the general culture in dealing with epidemics and viruses spreading through social media, by direct messages or through educational videos, as well as through direct awareness with customers in the branches in the interest of the safety of the work team, customers and the public all over Egypt.
Social responsibility initiatives: The United Bank participated in 5 national initiatives to support and assist the groups most affected by the global crisis of the spread of the new corona virus and the floods crisis that swept the republic during the month of March 2020.
1- The initiative of The Federation of Egyptian National Banks
The United Bank participated in the Federation of Egyptian National Banks initiative and donated 20 million pounds to Tahya Masr (Long Live Egypt) Fund to support the incapable classes of daily workers and those affected by the crisis and the precautionary measures, as well as a list of disinfection and sterilization actions for villages and cities and full support for the health system to support it in the process of completing the state’s plan to preserve the health of citizens.
2- Tahya Masr (Long Live Egypt) Fund
The United Bank also participated in Tahya Masr (Long Live Egypt) Fund initiative to support daily workers and provide the basic amount of their daily needs to support them in overcoming the current crisis.
3- South Sinai Governorate
The United Bank also cooperated with the Governor of South Sinai, General Khaled Fouda - to carry out relief work for those affected by the torrential crisis that South Sinai suffered from, including Saint Catherine.
4- Sona’a El Kheir (The Philanthropists ) Foundation
As well as participating with the Sona’a El Kheir (The Philanthropists ) Foundation in the "Hemaya" ( Protect ) initiative to support the incapable and support them to overcome the corona crisis by applying the methods to protect their health by providing them with the necessary prevention tools, as well as cleaning up homes, public facilities and their living places, and providing material support to meet their basic needs.
5- Opening a unified account
Unified accounts was opened for relief, support and assist those affected by crises and disasters, under the system of "Ethar" Community Development in all 65 branches of The United Bank spread throughout the Republic.
6- In addition to the support and assistance of The United Bank team by purchasing 4 devices and bringing them to Saint Catherine General Hospital, South Sinai Governorate