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المشهد العربي
Emirates Dubai Takes HSBC Egypt Retail
HSBC Egypt has signed an agreement to sell its retail banking business to National Bank of Egypt Egypt, with the transaction expected to be completed in the second half of 2027 following regulatory approvals. The deal includes the transfer of all assets and liabilities of the retail sector, with services to customers continuing without immediate changes. Both parties will mediate to ensure a smooth transfer of operations and staff. HSBC Group anticipates making a profit of approximately $0.3 billion before taxes from this deal, with no significant impact on its core capital.
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