Emirates NBD Dubai operates HSBC Egypt retail banking
National Bank of Dubai Egypt has announced the signing of an agreement to acquire the retail banking business of HSBC Egypt. The completion of the deal is expected in the second half of 2027, pending regulatory approvals. The transaction will involve the bank taking over the client portfolio, branch network, and ATMs, while maintaining continuity of products and services for current customers. The sale is projected to generate a pre-tax profit of approximately $0.3 billion, reflecting the group's confidence in the Egyptian market and its future growth prospects. This move is part of the bank's strategy to strengthen its regional presence and support economic growth in Egypt.
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