Kuwait Finance House K.S.C.P. has submitted a non-binding offer to acquire The United Bank from Central Bank of Egypt on February 29, 2024. In a statement to the Kuwait Stock Exchange, KFH explained that they have obtained the necessary data for evaluation, but there is no final offer has been made yet. This move is part of the group?s efforts to explore investment opportunities.

Reports had previously indicated that Qatar Islamic Bank (QIB) and KFH had completed the due diligence process for United Bank in December last year, in preparation for one of them to acquire it based on the best price.