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United Bank backs low-income people under CSR
The United Bank participated in the Egyptian Expo for real estate finance which was held on November 20 with the participation of mega real estate investment companies.
On the fringe of the one-day event, Ayman Mohamed, Head of the bank’s Real Estate Finance Sector, delivered a speech in a symposium on the services offered by the bank in this domains, especially the bank’s efforts to support low-and medium income people.
Mohamed said the bank offers real estate financing services for low-income people in all governorates in tandem with the Social Housing and Mortgage Finance.
He noted that this falls within the framework of directives of President Abdel Fattah El Sisi and the initiatives launched by the Central Bank of Egypt (CBE) for financing housing units for low-income people with a competitive return and for long periods of up to 30 years.
He added that the United Bank considers among its priorities Upper Egypt governorates new urban communities in order to up development and employment rates.
The bank has also real estate financing programs for a number of governorates of Lower Egypt and Delta.
He added that the distinguished real estate financing programs of the United Bank are available in 8 Upper Egypt governorates; namely Fayoum, Beni Suef, Menya, Assiut, Sohag, Qena, Luxor, and Aswan.
It also provides real estate financing services for low- and middle-income people in 4 governorates in the Canal Zone Port Said, Suez, Ismailia, the Red Sea, as well as 9 cities in the new urban communities; 6th of October, 10th of Ramadan, Obour, El Shorouk, Badr, Borg El Arab, Nubaria, New Damietta and New Alamein City.
The bank also offers real estate financing services in 7 governorates in Lower Egypt and Delta region; Monofiya, Gharbiya, Beheira, Kafr El Sheikh, Sharqiya, Daqahliya and Cairo.
Mohamed noted that the United Bank is one of the first banks that participated in the CBE’s initiative for real estate financing for low and middle income housing, which serves citizens’ interest in line with the Egyptian state’s policy aiming to improve the standards of living of the Egyptian citizens.
He added that the CBE’s many initiatives contributed to the entry of new segments of clients, especially low-income brackets. This has also helped promoting financial inclusion.
The United Bank occupies the seventh position among banks and companies that provide services to low-income strata.
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