Emirates NBD to acquire HSBC Egypt's retail banking business in deal expected to close in 2027

Aug 2, 2026

Emirates NBD Egypt S.A.E. has signed definitive agreements to acquire the retail banking business of HSBC Bank Egypt S.A.E. The transaction, expected to close in the second half of 2027, will generate an estimated $0.3 billion pre-tax gain for HSBC Group as part of its global simplification strategy. While Emirates NBD expands its consumer footprint in Egypt, HSBC will retain its corporate and institutional banking operations in the country.

HSBC Egypt retail acquisition

▪Emirates NBD Egypt S.A.E. signed definitive agreements to acquire the retail banking business of HSBC Bank Egypt S.A.E.
▪The transaction is expected to generate an estimated pre-tax gain of approximately $0.3 billion for the HSBC Group.
▪The transaction is expected to complete in the second half of 2027, subject to regulatory approvals and customary closing conditions.
▪HSBC Holdings PLC stated the sale follows a strategic review announced in 2025 and forms part of an ongoing simplification of the group.

Emirates NBD regional expansion

▪Emirates NBD completed the acquisition of a 60 percent stake in Indian private lender RBL Bank in June 2025 for $3.05 billion.
▪Emirates NBD is 56 percent owned by the Dubai Government through the Investment Corporation of Dubai and Dubai Holding Group.
▪Emirates NBD operates in 13 countries across the Middle East, North Africa, Türkiye, and South Asia, serving more than 25 million active customers.
▪As of June 30, 2026, Emirates NBD reported total assets of about $360 billion and a first-half net profit of approximately $3.5 billion.

Transaction scope details

▪Emirates NBD Egypt will take over HSBC Egypt's entire retail banking portfolio, including customer base, branch and ATM network, and transferring employees.
▪Following the divestment, HSBC Bank Egypt will retain its corporate and institutional banking operations in Egypt.

Egypt market growth confidence

▪Shayne Nelson described the acquisition as an important milestone in executing Emirates NBD's regional growth strategy.
▪Hesham Abdulla Al Qassim stated the investment reflects Emirates NBD's continued confidence in Egypt's dynamic market and long-term growth prospects.

Emirates NBD Egypt operations

▪Emirates NBD entered the Egyptian market in 2013 by acquiring BNP Paribas Egypt.
▪Emirates NBD Egypt reported total assets of approximately $5 billion as of June 30, 2026.
▪Emirates NBD Egypt currently operates 64 branches across Egypt, supported by more than 2,300 employees.