Tarek Fayed, CEO and Managing Director of United Bank, has revealed the bank’s new strategic vision, designed to strengthen its position in Egypt’s competitive banking market. In his first public statement since taking office, Fayed outlined a comprehensive strategy that underscores the bank’s commitment to supporting Egypt’s economic development plans, in alignment with Vision 2030.
The new strategy, according to Fayed, is built around four main pillars: digital innovation, sustainable finance, expanding retail banking, and community engagement. These areas are intended to meet the growing needs of both individuals and businesses while supporting Egypt’s broader economic objectives.
Digital and Integrated Banking Solutions
The first pillar of the strategy focuses on building an advanced integrated banking and digital ecosystem. This includes offering a broad range of tailored financial solutions, with a special emphasis on supporting small and medium enterprises (SMEs) and micro-enterprises. The bank will provide both direct financing and syndicated loans in partnership with other banks, aiming to foster growth in various economic sectors, particularly in industrial zones across the country. Additionally, United Bank plans to expand its cash and liquidity management services, as well as its foreign trade financing capabilities, through both traditional and digital banking solutions.
Expanding Retail Banking Services
The second pillar targets the expansion of the bank’s retail banking services and products. Fayed highlighted the bank’s commitment to providing comprehensive, Sharia-compliant banking solutions that cater to diverse customer needs. These offerings will be available through United Bank’s 68 branches and 225 ATMs across the country. The bank will also enhance its digital services, offering customers 24/7 access to banking through internet and mobile platforms. New products, including customized financing programs, savings plans, and a suite of credit, debit, and prepaid cards such as the Rakhaa’ Sharia-compliant credit card and Agial for youth, will further diversify the bank’s offerings.
Promoting Sustainability and Green Economy
The third pillar emphasizes the bank’s commitment to sustainability and the green economy. Fayed explained that the bank will prioritize eco-friendly practices and sustainability efforts across environmental, social, and economic dimensions. United Bank aims to actively engage in initiatives that reduce the carbon footprint, promote green economic policies, and raise awareness about sustainability among individuals and businesses. The bank will also focus on expanding sustainable finance plans, contributing to Egypt’s broader environmental goals.
Strengthening Community Engagement
The final pillar centers on enhancing the bank’s role in community development. Fayed expressed the bank’s determination to deepen its engagement in national campaigns, particularly those supporting marginalized and vulnerable groups. Initiatives such as the “100 Million Healthy Lives” project, eye care convoys, and efforts to alleviate waiting lists will be key areas of focus. In addition, United Bank plans to strengthen its community outreach in regions such as Upper Egypt, including projects in Luxor’s Nagaa El-Gesour village and South Sinai’s Saint Catherine area. The bank will also continue its support for initiatives aiding outstanding Quran memorisers.
United Bank’s new strategy reflects its long-term vision of contributing to Egypt’s economic growth while embracing innovation, sustainability, and social responsibility. Fayed concluded that the goal is to align the bank’s objectives with the nation’s Vision 2030, creating a positive impact on both the financial sector and society at large.
