In a move that surprised the international banking community, a decision made by The Central Bank of Egypt on the 29th of June, 2006, was the establishment of The United Bank. In order to activate the banking reform policy, which began in Egypt since 2003, to maintain strong banking entities, able to compete in the open market, and to support the overall Egyptian development. The United Bank is considered the third largest banking entity with a paid net worth of 3.5 billion EGP. For the first time, in Egyptian banking history, The Central Bank of Egypt owns 99.9 % of The United Bank. About The United Bank