Emirates NBD has entered into definitive agreements to acquire the retail banking business of HSBC Bank Egypt through its wholly owned subsidiary, Emirates NBD Egypt. The transaction remains subject to regulatory approvals and customary closing conditions.
As part of the acquisition, Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio, including its branch and ATM network, customer base, and relevant employees. The transaction is expected to strengthen Emirates NBD Egypt’s position as a leading retail and premium banking franchise in Egypt while deepening the Group’s connectivity across the UAE–Egypt corridor.
The acquisition forms part of Emirates NBD’s broader regional growth strategy, with Egypt identified as one of the Group’s core markets. The bank said the transaction will enhance its ability to serve a larger customer base and further strengthen its long-term presence in the country.
Commenting on the announcement, Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said the investment reflects the Group’s continued confidence in Egypt’s long-term growth prospects. Group CEO Shayne Nelson described the acquisition as an important milestone in the bank’s regional expansion strategy, while Emirates NBD Egypt CEO Amr ElShafei said the bank looks forward to welcoming HSBC Egypt’s retail customers and providing them with seamless financial solutions, digital banking services, and a customer-focused banking experience.
Emirates NBD Egypt currently operates a network of 64 branches across Egypt and reported total assets of approximately US$5 billion as of 30 June 2026.
Source: Emirates NBD
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
