The United Bank is to announce its achievement for 2021
Ashraf El Kady- President of The United Bank
Cairo: June 12, 2022
The United Bank General Assembly announced its achievements for the year 2021 yesterday. UB achieved net profit around 1.5 billion Egyptian pounds before taxes in year 2021. Comparing with 1.6 billion Egyptian pounds in year 2020. And around 1.140 billion Egyptian pounds after taxes in year 2021, comparing with around 1.3 billion Egyptian pounds in year 2020. Despite what have been experienced on the international economy and highly volatile economic changes.
That was in the presence of the general assembly members and board members led by Ashraf El Kady, and in the presence of Farag Abd El Hamid, Vice President of UB, and a number of The UB team and management.
The meeting went for five solid hours. The final results of 2021 have been discussed. The general assembly members praised the significant accomplishments of UB and its business expansion at various levels. They portrait UB huge development in performing banking services, and depending on Fin Tech solutions as one of the key necessities to expand the customers’ reaching all of the Republic.
They also celebrated the national rule played by UB, in accordance with the State and The Central Bank of Egypt approaches. The United Bank participated in the national initiatives and provided the needed funding to the enormous national projects either industrial, or agricultural or service projects. The latest co-funding was to The Canal Company for Sugar. Which aims to achieve self- sufficiency of sugar and turning into exporting. Besides, participating in a number of large national funds, such as: “Light House” fund targeted to support the educational system and a fund to support medium and small projects and a sports support fund. As well as, providing the support for national social and economic programs in mortgage field. UB occupies the seventh place in funding this promising sector that witness a widely growth and affects the rate of employment and achieves one of the most important social equity fundamentals. The thing that positively reflected in accomplishing the Egyptian State vision 2030.
The achievements in final accounts, net profit and property rights revenues regarded as a huge leap.
The United Bank 2021 final achievements indicators:
The corporate growth and team work as the key to the institution success
Ashraf El Kady commented on The United Bank’s results for 2021 that he is proud of UB’s work team and what have been accomplished. He is looking forward to the near future, especially that the work team has business mechanism which includes specialized visions and the needed experience to lead the growth wheel and sustainable development.
El Kady added that the corporate leadership development process led to a radical positive change and maximizing the general performance and improving the quality of banking service, increasing profits to maximize the bank’s value. This development process included the human resources, and the organizational structure of the corporate. As well as the efficient development of banking operations to keep pace with the international standards and best practices. Besides, applying smart solutions to overcome obstacles and dangers.
As well as elevating the innovative and creative competencies of the work team as one if the key elements of the corporate development process. The thing that reflects positively on the product and service improvement. Besides, raising the corporate capability to compete in the market. And the speed of adaptation in local and international economic events.
Ashraf El Kady was glad with UB successful partnership, including its customers in all governorates. As well as, increasing number of digital services customers which emphasize that Fin Tech is penetrating customers’ culture especially youth segment.
Besides, the media elite and the largest technological, educational and economical institutions. This proofs UB great credibility to move forward its ambition to meet customers’ needs. In addition to the present and future market needs of digital banking solutions.
Educational and internship qualification to create future leaderships
Farag Abd El Hamid, The United Bank vice president, mentioned that transforming local and international challenges into investment opportunities and innovative work mechanism is UB slogan. This slogan is adopted with high enthusiasm and significant efficiency. The clarity of the vision and encouragement of the cultural blend in banking business helped in diversity of experience, which eventually resulted in maximizing the corporate welfare.
The United Bank team work challenges crises and manages the banking business with smart vision and innovative solutions.
Nevine Kashmiry, Deputy Managing Director for Business sectors at The United Bank, stressed that looking forward to more achievements is the target of UB work team, especially with strong supported will, that pushes the institution and its work team into more success. That is interpreted in numbers and expansions in all business sectors.
The United Bank is qualified to be one of the largest Fin Tech institutions in the market
Moataz El Qassaby- Deputy Managing Director of The United Bank and Head of Risk sector, stated that UB is applying the latest theories to measure the risk volume and scientifically predicts the local and international economic changes’ impacts. The thing that contributes to put smart solutions suitable for all scenarios. In order to provide suitable investment tools that guarantee performance development, so maximizing profits sustainably. Besides creating a group of financial smart mechanisms and plans that cope with the institution’s goals. As well as, attempting to reduce risks in general.