United Bank reports over EGP 1bn in profits for Q1 2025

Daily News Egypt

24-05-2025

United Bank has reported standalone pre-tax profits of EGP 1.013bn for the first quarter (Q1) of 2025, achieving a 59% increase compared to the same period in 2024. CEO and Managing Director Ashraf El-Kady described the performance as a reflection of the bank's professionalism and adaptability across all areas of banking operations.
El-Kady acknowledged that the first quarter of the year continued to present challenges, particularly those related to open market mechanisms. However, he emphasized that the bank's flexible strategy allowed it to navigate these challenges effectively and make significant progress on multiple fronts. Central to this progress was United Bank's focus on digital transformation, which El-Kady described as one of the most pressing and strategic priorities during the period.
To keep pace with global standards, the bank increased its investments in digital infrastructure and employee training. These efforts were aimed at enhancing operational efficiency and meeting the evolving expectations of its customers. El-Kady noted that there has been a noticeable shift in customer behaviour, with rising demand for digital services and innovative financial products. In response, the bank launched a suite of digital banking solutions designed to meet the needs of both individuals and businesses. These offerings contributed to improved customer satisfaction and helped expand the bank's market reach.
In addition to digital transformation, the bank continued to strengthen its presence across key economic sectors. It pursued further growth through its digital channels and expanded services for corporate clients and small and medium-sized enterprises (SMEs). Notably, the bank also began incorporating green finance mechanisms into its operations, aligning with national sustainability objectives.
El-Kady stated that the financial indicators for the first quarter clearly reflected the success of these initiatives, with solid growth in revenue and return on equity. He reaffirmed the commitment of United Bank's team to achieving both its financial and operational goals while continuing to play an active role in community development and sustainable finance.
According to the bank's official financial statements, United Bank achieved a net profit after tax of EGP 740m in the first quarter of 2025, compared to EGP 441m in the same quarter last year—an increase of 68%. Revenue from banking returns rose to EGP 3.283bn in March 2025, up from EGP 2.776bn a year earlier.
The bank's total assets increased to EGP 87.176bn, supported by a rise in customer deposits, which reached EGP 67.025bn, compared to EGP 62.815bn in the previous year. Net loans and credit facilities extended to customers amounted to EGP 32.780bn. Within its financing operations, the syndicated loan portfolio reached EGP 7.137bn, while corporate financing totalled EGP 25.857bn, of which EGP 15.439bn were direct loans. Meanwhile, retail loans stood at EGP 8.436bn.
El-Kady concluded by reiterating the bank's strategic focus on operational excellence, digital innovation, and financial inclusion, positioning United Bank for continued growth in a changing economic landscape.