Egypt's central bank may sell shares in United Bank in early 2025

Release time:

2024-09-25 10:54

Source Event Xinhua Finance

Reporter Zhang Jian

Egyptian media reported on the 22nd that the Central Bank of Egypt has decided to sell shares of United Bank on the Egyptian Stock Exchange and is currently working to obtain approval from the Financial Supervisory Authority and the Egyptian Stock Exchange.

A statement from the Central Bank of Egypt said that the transaction will be subject to market conditions and timely approval of relevant regulatory authorities, and is expected to take place by the end of the first quarter of 2025.

The statement said that Union Bank is one of the banks with a strong position in the Egyptian banking industry. It provides diversified products and a customer base including individuals, companies and small and medium-sized enterprises.

According to the "Egypt Today" website, at present, United Bank and its non-bank financial department have 68 branches and 225 ATM machines, with about 1800 employees. As of June 2024, the bank's total assets were 106 billion Egyptian pounds.

—END—

Egypt aims to attract over $20 billion a year in foreign direct investment

TEDA Cooperation Zone Dialogue with Ludao Investors to Explore Investment Opportunities in Egypt

Egypt aims to attract over $20 billion a year in foreign direct investment

TEDA Cooperation Zone Dialogue with Ludao Investors to Explore Investment Opportunities in Egypt

2025-12-01

The development of the park is inseparable from the growth of enterprises. TEDA will always stand in solidarity with businesses, continuously optimize the business environment, and promote the comprehensive upgrade of the park’s management and service systems.

Xu Mingliang, Secretary of the Haining Municipal Party Committee, inspects the TEDA Cooperation Zone to jointly explore new avenues for development.

2025-11-28

Zhongfei Taida was invited to attend the 2025 China-Egypt Industry Closed-Door Matchmaking Meeting.

2025-11-28

The closed-door matchmaking meeting has further strengthened the ties between the industrial sectors of China and Egypt, injecting new momentum into Chinese enterprises' investment and business development in Egypt.