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اقتصاد سكاي نيوز عربية
Emirates NBD acquires HSBC Egypt retail
The National Bank of Dubai Egypt Group plans to acquire the retail banking operations of HSBC Egypt in a deal aimed at strengthening its market share in Egypt and expanding its customer base. The transaction is based on the assets and liabilities of the retail banking portfolio, including loans, deposits, and accounts, along with the branch network and banking devices. The deal is expected to be completed in the second half of 2027, following regulatory approvals and fulfillment of certain conditions. Although the transaction value has not been disclosed, HSBC anticipates accounting profits of approximately $300 million from the sale, while maintaining its corporate and institutional banking operations as independent units with no immediate changes for clients. The bank aims to support its position in the Egyptian market, enhance its retail services, and provide long-term growth opportunities. It also affirms that this deal is part of an regional expansion strategy to strengthen its presence in Egypt, a key market with promising opportunities.
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