The United Bank announces 62 achievements on 13 economic, social, development and cultural axis during 2023

28/12/2023

The United Bank announces 62 achievements on 13 economic, social, development and cultural axis during 2023

Ashraf El Kady- The Chief Executive Officer and Managing Director

• UB banking Excellency reassure its professional identity and system.
• UB Islamic transactions bring together Islamic economic foundations and digitalization.
• An innovative system to support SMEs and Micro Finance.
• Expansion in non- banking solutions via United Finance- UB non-banking financial arm serving investors.
• UB future bets on digitalization and artificial intelligence applications.
• 26 eco- friendly initiatives as per to The United Nations agenda 17.
• The green media is one of the pillars towards eco- friendly transactions.
• UB team work is exceptional in their devotion and loyalty.
• UB High Fliers participate in drawing UB strategy.
• 55 local and international award over 17 years.

Cairo: December 2023

The United Bank issued its annual achievements report 2023 announcing 62 accomplishments that reflects successful professional corporate march. This year UB is crowned with 10 international and local awards, reaching a sum up of 55 awards over 17 years. Thanks to the devotion and concerted efforts of its work team.

The report demonstrates 62 UB achievements with economic, social, developmental and cultural reflections:

First: on the corporate banking

UB participated in many of syndication contributing in funding of many different projects: establishing and developing Egyptian seaports, developing the real estate sector, cultivating lands, establishing factories for sugar and essential goods.

• During 2023, UB participated in a number of syndications with around 800 million L.E.

Second: Compliant with sharia provisions banking solutions

Year 2023 witnessed the launching of 5 compliant sharia banking products in the market.

• In January 2023- UB launched a package of Islamic saving certificates with three different editions with variable return tenors in order to meet all customers’ needs.
• In April 2023- UB launched 2 compliant with sharia certificates. Under the names of “El Sonbola” certificate, and The Elite “El Nokhba” certificate, with variable return and three years tenor.
• In May 2023- UB launched the compliant with sharia dollar deposit “Tharaa”, its tenor is 6 months or a year. The return is paid accumulated by the end of the year.
• In August 2023- UB launched the compliant with sharia provisions dollar certificates: “Raghd” and “Roa’ya”, with the highest competitive return in the Egyptian market. Its tenor is 3 years.
• In November 2023- UB launched compliant with sharia mortgage program “Egara”.

 

Third: Conventional Banking solution

• In February 2023 & November 2023- UB Rakhaa fund- compliant with sharia monetary with accumulative return, tops the Islamic funds in the market indicators with rise record indicator up to 17.7%. managed by CI Capital.
• In September 2023- The Egyptian Stock Exchange- membership committee- approved UB (as an exchange member) demand to provide trading services as a custodian on government debt instruments (bonds- shares- treasury bills- notes- trading in government bills).

That decision came as per The Central Bank of Egypt approval issued in June 1, 2023. In addition to the approval issued from the Egyptian Financial Supervisory Authority (EFCA) number 2028 of year 2023 on 15^th of August 2023, to direct handling the secondary market of government debt instrument as an informal operator.

 

Fourth: Non- Banking solutions

• In November 2023- United Finance company- UB non- banking financial arm announced the success of its first securitization process issuance with total amount of 617.5 million L.E divided into 3 segments. That was after the approval of the Egyptian Financial Supervisory Authority (EFSA), the operation coverage ratio was 135% growth.

 

Fifth: In mortgage field- as per CBE initiatives

• In October 2023- the mortgage sector witnessed record growth indicators. As the volume of provided finance is 2 billion and 700 million L.E by the end of 2023. With a growth rate that exceeded 1000% for around 14.500 clients all over Egyptian governorates.
• In April 2023 & June 2023- the mortgage sector witnessed a range of tours in the framework of the national campaign of providing mortgage for low and middle class income citizens in a number of Upper Egypt and Delta governorates.
• In November 2023- UB made securitization in of mortgage bonds in Urban Communities Authority with 300 million L.E. with 2%, with the cooperation of 10 other working banks in the market.

 

Sixth: Digital and banking transactions

• In January 2023- Under the auspices of The Central Bank of Egypt and Egyptian Banks Company, UB joined “InstaPay”- the instant payment network- through launching the application to its clients. Moreover, installing all the application updates.
• In February 2023- Many services were upgraded and added to UB’s ATMs in order to make it easier for customers and to save their time and effort. Services like: activating a newly issued card, withdrawal and deposit via Fawry service providers compliant with Egyptian Banks network and recycle service that enable the customer to reuse the amounts of money deposited in UB’s ATM.
• In March 2023- automating the remittance service consistently with money transfer companies, and installing it instantly to the corporate internet banking ACH.
• In March 2023- instant activation of payroll on prepaid cards for corporates.
• In June 2023- the availability of alarming customers about their credit cards with the card available and due balances, issuing bank statements to customers through Internet Banking for individuals and corporates. Moreover, to the availability to contact with the account officer through Internet banking for individuals and corporates.
• In July 2023- activating the installment system for credit cards CII.
• In October 2023- launching the updated version of UB digital wallet.
• In November 2023- UB conducted a range of field tours to demonstrate its experience in electronic litigation and its importance and its applications. These tours resulted in contracting with many entities in order to organize training workshops to show them the process of electronic litigation and digital economic courts.
• In November 2023- in the framework of transforming UB into eco- friendly transactions and rationalization of consumption, automating more than 75% of the procedures and activating the artificial intelligence. Moreover, continual development of technological infra structure and security improvements.
• In December 2023- the experimental streaming of UB’s Chat Bot for digital channels.

 

Seventh: National Initiatives field

Year 2023 witnessed effective participation of UB in a number of national initiatives led by CBE:

• Financial Inclusion initiative: UB organized 8 financial inclusion campaigns. Under the auspices of CBE. Those campaigns target specific societal segments, like: women, youth, low- income citizens and people with disabilities.
• in the framework of Decent Life Initiative, UB made integrated societal campaign for financial inclusion that comprised a number of tours in six governorates: El Sharqia, Dakhahlya, Gharbya, Damietta, and Gize. Among the most important achievements:
• Spreading awareness and financial culture and providing financial products and suitable banking solutions for citizens in 8 centers and 9 of the most needed villages.
• Collaboration with 5 universities to reach youth through participating in a number of sessions presented to students: Mansoura, Damietta, Delta, Zaqaziq and Tanta. The sessions were targeted to 9 faculties in the mentioned universities.
• Collaboration with a number of civil society institutions like: El Forsan El Hadidy for development, that aims to provide support to breadwinner women. Moreover, “Choose a family” Ekhtar Osretak assembly that cares for poor families with low income.
• UB participation in the events of the first economic gathering in El Mansoura University.
• UB participation in “Touch your dream” Elmes Helmak initiative, with the cooperation of Dar Akhbar El Youm, that aims to spread awareness through dealing with Brail method for people with disabilities from Al Azhar University and Al Azhar institutions.
• UB participation in the events of the round table as per the invitation of the National Assembly for human rights. Aiming to boost the economic rights of the people with disabilities inside the banking sector.
• UB participation in employment fair in El Mansoura University.
• Participation in the national campaign in spreading awareness about Cyber Security.
• UB launched an integrated awareness campaign of cyber security and the fundamentals to face and overcome fraud. That is especially amid the increase of digital transactions and expansion of financial inclusions, either through awareness campaigns or through insurance applications to protect customers and their investments.
• In July 2023- UB received Payment Card Industry- Data Security Standard award.

 

• Nile Pioneers Initiatives
• In September 2023- With the cooperation of Nile Pioneers Initiative sponsored by CBE and executed by Nile University. UB announced the launching the supporting, qualifying and developing program provided for the textile and ready-to-wear industry. The program aims to increase the efficiency of work force operating in the field, and increasing the ability to export, and be available on e- markets either local or international. It presents efficiency methods to maximize companies; quality control, expenses control, improving reporting system for production lines. The program trained 178 persons in 22 companies. The concentration was about start- ups and innovative ideas for Egyptians especially youth, through the three centers of Nile Pioneers affiliated to it: Cairo, Dakhalya, and El Menya.
• In November 2023- UB announced the harvest of five hardworking years for Nile Pioneers. UB provided 10855 technical and non- banking service for 3011 entrepreneurs around Egypt. All concerted work aimed to improving the work environment, supporting entrepreneurs, small enterprises and startups to overcome the challenges facing them either on the local market level or the international one. UB provided full support and banking finance to 477 entrepreneurs with 178 million L.E amount of finance.
• In November and December 2023- Organizing a range of awareness sessions about Nile Pioneers in Horus University and El Mansoura University.

Eighth: Micro, Small and Medium Enterprises

Although there were many negative impacts of Corona virus on global economy, yet the MSMEs is among the first sectors that witnessed developing banking thinking and finance management. That was through providing a package of specialized finance solutions, digital services, and technical consultations, with keeping sustainable growth and profits.

Furthermore, UB encourage the process of transforming the society into cash less society. Through spreading the culture of financial transactions and increasing the societal awareness with digital mechanisms. UB focused its marketing and propaganda activities on the transforming process and working with Internet Banking for corporates. As well as, cash management and cash flow.

On the level of Micro finance

• In February 2023- UB announced the harvest of the specialized portfolio for Micro Finance which exceeded 520 million L.E for year 2022.

UB did not just provide financial support for this sector, but it works on developing value chains, especially in agricultural production field. Which has great impact on providing job opportunities for youth and women in the agricultural products field, like: packaging, transportation, food marketing and agricultural products.

UB works now on linking the value chains with large factories, in order to provide technical support with the financial support. The thing that contributes to modernize farming methods, and keeping the standards of compliance and safety. Moreover, eliminating informal economy.

Ninth: launching 26 initiatives and projects on green practices

In the following fields: green finance for individuals and corporates, societal responsibility in health, education and community development, and digital transactions.

Tenth: completing UB building in the New Capital

With more than 2 billion L.E investments, UB is about to complete preparing the new capital building in order to complete its success march and societal participation to maximize urban expansion and boost Egyptian economy as per 2030 vision.

Eleventh: Green Media

UB believes in the importance of media role and culture in public opinion industry and maximizing institutions performance. UB depends on the ongoing improvement strategy and boosting effective communication mechanisms among teamwork. 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.

Empowering and qualifying women to leadership

• In January- February- March- May and August 2023 UB organized 5 specialized events for UB Laky forum members. The events included many workshops, like: rationalizing consumption imitation- hope industry- your green summer- supporting Baheya fighters campaign- and deepening cultural and knowledge awareness, and their reflections on overcoming daily pressure faced by women.
• In April 2023 under the slogan of “Big Family”, UB organized 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 2023 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 September 2023- UB organized “UB Carnival” with the participation of 30 small and micro enterprises specialized in school items to encourage Egyptian industry under the slogan “Made in Egypt”.
• In October 2023- UB launched “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.

Twelfth: Empowering youth and investing in human powers

• In January 2023- Encouraging wide youth movement and support a number of developmental projects: digital development group, banking awareness group, rationalizing internal and external consumption group, and UB developing products group.
• In February 2023- UB launched “Ajyal Forum” in order to empower banking youth and culturally and banking qualifying them to be UB ambassadors to market banking products and spread awareness to build a better future to the nation.
• In April 2023- UB Chairman’s Award have been granted to 186 member of UB work team in a big celebration.
• In October 2023- High Fliers Program graduates began to take over leadership positions in branches and administrations.
• In November 2023- UB opened new horizons for the innovative minds among its work team to provide digital services and solutions, through UB participation in the competition organized by The Egyptian Banking Institute about virtual currencies. One of UB young women has been the top of this competition.

Thirteenth: In Corporate Social Responsibility

• In March 2023- the start of executing the development work in Nag El Gosoor village in Luxor- 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. In addition, under the auspices of the Social Solidarity Minister Neven Kabbag, and with full coordination with Mr. Counselor Mostafa Elham- Luxor Governor.

Worn houses have been rebuilt. In order to achieve economic empowerment, 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.

In education and health

• Supporting 57357 Children Cancer Hospital.
• Supporting non- able students to pay schooling fees on South Sinai.
• Packaging food containers in Holy Ramadan.
• Supporting to Red Crescent and Misr fund for earthquake
• Opening an account for Good Makers for humanitarian assistance for Gaza people.
• Continuing cooperation with El Orman institution to support Dar El Orman hospital in Luxor.
• Continuing to support Baheya Foundation for breast cancer.
• Continuing to provide moral and study support for South Sinai students via organizing a sports day.
• UB continual support for Holy Quran competition in 20 governorates all over the Republic.
• Directing support for Specialized Sheikh Zayed Hospital for cancer.
• Partnership with Misr fund through winter campaign and food campaigns that aim to deliver food for the farthest places.
• Providing scholarships for some students in Zewail University for Sciences and Technology.

 

End.