Emirates NBD Acquires HSBC Egypt Retail Banking Operations

The Dubai-based lender Emirates NBD signed a definitive agreement to acquire the retail banking operations of HSBC Bank Egypt. The transaction transfers HSBC Egypt's retail portfolio, including its customer base, employees, and branch and ATM network, to the wholly owned subsidiary Emirates NBD Egypt.

While Emirates NBD did not disclose specific financial terms, HSBC reported that the sale is expected to yield a pre-tax gain of approximately $300 million. The deal aligns with a broader restructuring for HSBC, which will retain its corporate and institutional banking activities in the country.

Emirates NBD intends to use the acquisition to strengthen its presence in Egypt and improve connectivity across the UAE-Egypt trade and investment corridor. The transaction is subject to regulatory approvals and is expected to close in the second half of 2027.