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# UAE's Emirates NBD Egypt to acquire retail banking business of HSBC Bank Egypt
- URL: https://www.theglobalbanker.com/emirates-nbd-egypt-acquire-hsbc-egypt-retail-banking-2026/
- Published: 2026-08-02T11:12:00.000Z
- Updated: 2026-10-02T00:50:21.000Z
- Description: Emirates NBD Egypt has agreed to acquire the retail banking business of HSBC Bank Egypt, with completion expected in the second half of 2027 subject to regulatory approvals.
- Author: TGB Editorial Team
- Tags: M&A, MENA

Emirates NBD Egypt S.A.E., the wholly owned Egyptian subsidiary of Dubai-based Emirates NBD Bank (P.J.S.C.), has agreed to acquire the retail banking business of HSBC Bank Egypt S.A.E., Emirates NBD said in a statement on Sunday.

Financial terms of the transaction were not disclosed, though HSBC said it expected the sale to generate a pre-tax gain of around USD 300 million, and completion is targeted for the second half of 2027 subject to regulatory approvals.

#### REGULATORY APPROVALS REQUIRED

The transaction is subject to regulatory approvals and customary closing conditions. 

Emirates NBD Egypt is a fully owned subsidiary of Emirates NBD Bank (P.J.S.C.), whose overseas operations contribute about 36 per cent of the group's total income. The transaction would expand its Egyptian retail footprint through the acquisition of an established branch network and customer base.

HSBC Bank Egypt is an indirect subsidiary of HSBC Holdings PLC, the UK-listed international banking group. HSBC said the sale follows a strategic review announced last year and forms part of an ongoing simplification of the group as it focuses on areas where it has a clear competitive advantage; it will keep its corporate and institutional banking operations in Egypt.

#### COMPLETION TARGETED FOR 2027

Completion of the transaction is expected in the second half of 2027, HSBC said, subject to receipt of the necessary regulatory approvals. HSBC said there would be no immediate changes for its retail customers and that both parties would work to enable a smooth transition.

HSBC said it expected the sale to generate a pre-tax gain of approximately USD 300 million, although financial terms were not disclosed. HSBC said the gain will be recognised largely at completion and the sale is expected to have an immaterial impact on the group's CET1 capital ratio.

Emirates NBD said the acquisition is expected to strengthen Emirates NBD Egypt's position as a leading retail and premium banking franchise and deepen connectivity across the UAE-Egypt corridor. Group chief executive Shayne Nelson said the transaction "strengthens our presence in one of the Group's core markets and supports our ambition to continue growing our customer franchise in Egypt".

The deal was announced by Emirates NBD, and HSBC issued a separate statement. The deal covers HSBC Egypt's entire retail banking portfolio, including retail loans, deposits, accounts, the associated branch and ATM network and the transferring employees.

Emirates NBD Egypt chief executive Amr ElShafei said the bank looked forward to welcoming HSBC's customers.