Forbes: United Bank Ranks Among Egypt’s Top 50 Public Companies for 2025

Forbes Middle East has revealed its list of the Top 50 Publicly Listed Companies in Egypt for 2025, with United Bank named as one of the leading institutions in the banking and financial services sector.

The bank is led by Ashraf El Kady, serving as CEO and Managing Director. According to its 2024 financial performance:

Market value: $303 million

Sales: $276 million

Net profit: $56 million

Total assets: $1.7 billion

United Bank made headlines in December 2024 by becoming the first bank in Egypt to go public since 1996. It offered 30% of its shares in an initial public offering (IPO) that raised approximately $90.5 million. Of the shares offered, 95% were allocated to financial institutions and qualified investors, both locally and internationally, while 5% were made available to retail investors on the Egyptian Exchange.

The bank provides a wide range of conventional and Islamic banking services, and as of Q1 2025, it employs over 1,600 staff. The Central Bank of Egypt remains the majority shareholder, holding 69.99% of the bank’s capital.

Forbes’ ranking methodology was based on audited financial data collected from the Egyptian Exchange. The evaluation considered four equally weighted metrics:

Sales

Net profit

Total assets (as of FY 2024)

Market value (based on April 25, 2025 closing data)

Companies that had not disclosed audited financial statements by April 25, 2025, were excluded. All financial indicators were calculated using exchange rates from the same date.

United Bank’s inclusion in the Forbes list highlights its financial strength, strategic transformation, and its significant move to become a publicly listed entity in Egypt’s banking landscape.