October 17, 2017 1:58 PM ET

Banks

Company Overview of The United Bank

Company Overview

The United Bank provides banking products and services to businesses and individuals in Egypt. It offers Islamic and commercial saving accounts; noninterest and interest bearing current accounts; commercial certificates; Rakaa credit cards, Visa credit cards, Visa electron Master cards, Internet Master cards, and prepaid Master cards; and remittance services. The company’s services also include safe deposit boxes, gift dispatch services, and credits and letters of guarantee. In addition, it offers educational, personal, and real estate finance services; various specialized funding programs for small and medium enterprises that include resource, distributor, carrier, and environmental finance...

106, Kasr El-Aini Street

Cairo,  11461

Egypt

Founded in 1981

Phone:

202 7920146

Fax:

202 7920153

Key Executives for The United Bank

Chairman and Managing Director
Vice Chairman and Managing Director
Vice Chairman and Managing Director
Assistant Managing Director of Funding Large & Small-and Medium-Sized Enterprises (SMEs).
Compensation as of Fiscal Year 2017.

The United Bank Key Developments

United Bank of Egypt Appoints Nevine Kashmiri as Assistant Managing Director of Funding Large Enterprises, SMEs

United Bank of Egypt appointed Nevine Kashmiri as assistant managing director of funding large enterprises, SMEs. Kashmiri has extensive banking experience in the field of credit, especially of major companies, as she worked in a number of major banks including Egyptian Gulf Bank and Greece's Piraeus Bank. She was also a board member in Piraeus for financial leasing, Prime Holding for securities, Tanmeyah Micro Enterprise Services, and other companies.

Kuwait Finance Mulls To Buy The United Bank

Kuwait Finance House (K.S.C.P.) (KWSE: KFIN) is in talks to buy The United Bank Of Egypy. The Central Bank of Egypt, which owns 99.9 % of the United Bank, recently announced the plans to sell its shares in the bank to a strategic investor. The Kuwaiti bank may start due diligence to buy the United Bank within the current month, the sources said. Some foreign banks, notably from the Arab Gulf, have also showed interest in bidding for the United Bank of Egypt, the sources added.

Egypt To Privatize AAIB And Banque Du Caire Through IPO And Sell United Bank

Egypt will offer a 40% stake in Arab African International Bank through listing, 29% stake in Banque Du Caire S.A.E. through listing and will sell The United Bank to a strategic investor. Tarek Amer, Governer of the Central Bank of Egypt said in January the central bank was considering initial public offerings in two state banks but did not name them at the time. "We want to strengthen the bourse to make Egypt attractive," Amer said in television interview on March 26, 2016. The government will offer 20% of Banque du Caire by increasing its capital through an initial public offering, Amer said. He said that 40% of AAIB would be offered in the same way, with half to be sold by the government and half by the bank's Kuwaiti investors, Kuwait Investment Authority. Amer said that The United Bank, which is 99% owned by the central bank, would also be sold to a strategic investor this year.

Similar Private Companies By Industry

Company Name Region
Arab African International Bank Middle East/Africa
Arab International Bank Middle East/Africa
Arab Investment Bank Middle East/Africa
Banque Misr (S.A.E.) Middle East/Africa
Egyptian Development Bank of Egypt Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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