Ashraf El Kady leads the United Bank to expected significant financial results during the coming period
The United Bank's indicators grew well during Ashraf El Kady's leadership as Vice Chairman and Managing Director of the Bank, which began in March 2016
According to a new monitoring conducted by First Bank to measure the development of the most important financial indicators of the United Bank Based on data announced between the end of 2020 and the most recent available period of September 2024, the Bank appears to have achieved a moderate increase in its asset portfolio Assets increased from Pound57.427 billion in December 2020 to Pound78.332 billion by the end of September 2024, registering a growth of 36.40% and an overall increase of Pound20.905 billion
Customers' deposit portfolio rose by 51.98%, registering 57.034 billion pounds by the end of September 2024, compared to 37.527 by the end of 2020, an increase of 19.507 billion pounds
The increase in the customer deposit portfolio is due to a rise in the volume of individual deposits to 34.411 billion pounds by the end of September 2024, compared to 22.038 billion pounds by the end of 2020, a growth of 56.14% and an increase of 12.373 billion pounds
As for institutional deposits, it recorded growth of about 46.06% during the period under analysis, reaching 22.623 billion pounds by the end of September 2024, compared to 15.488 billion pounds by the end of 2020, an increase of 7.135 billion pounds
In terms of granting credit to the bank, its total loans to customers rose from 15.787 billion pounds by the end of 2020, to 30 billion pounds by the end of September 2024, a growth of 90.02% and an increase of 14.213 billion pounds
The increase is attributable to the rise in the bank's loans to individuals, where its portfolio jumped by 122.2% during the period under analysis, to 8.418 billion pounds by the end of September 2024, compared with 3.787 billion pounds by the end of 2020, an overall increase of 4.631 billion pounds
The Bank's loans to enterprises including microcredit for economic activities also rose to 21.582 billion pounds by the end of September 2024, compared to 11.999 billion pounds by the end of 2020, a growth of 79.86% and an increase of 9.583 billion pounds
Despite an increase in its loan portfolio, the United Bank managed to achieve a significant decline in its stumbling rate, falling to 2.38% by the end of September 2024, compared to 7.37% by the end of 2020.
