South Africa
Finance Banking
Submit newsAdvertiseSubscribe
NewsPress Office NewsCompaniesJobsEventsPeopleMultimediaFeaturesOpinion
AdvertiseSubmit news

Industries

All industriesAgricultureAutomotiveConstruction & EngineeringEducationEnergy & MiningEntrepreneurshipESG & SustainabilityFinanceHealthcareHR & ManagementICTLegalLifestyleLogistics & TransportManufacturingMarketing & MediaPropertyRetailTourism & Travel

Features

Loeries Creative WeekBizTrendsPendoringEffie AwardsOrchids and OnionsThe Lead CreativeMore Sections..

In the news

AICPA & CIMALulaOnPoint PRChadwicks Risk & InsuranceBridgementEnquire about a company Biz Press Office
Agriculture
Automotive
Construction & Engineering
Education
Energy & Mining
Entrepreneurship
ESG & Sustainability
Finance
Healthcare
HR & Management
ICT
Legal
Lifestyle
Logistics & Transport
Manufacturing
Marketing & Media
Property
Retail
Tourism & Travel

News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

Submit content

My Account

Advertise with us

Trending

2 days 7 days 30 days By Industry
Search jobs
Advertise your job vacancies
    Post your Job Ad here >>

    Subscribe & Follow


    Emirates NBD Bank to acquire retail banking business of HSBC Egypt

    Emirates NBD said on Sunday, 2 August 2026 that its fully-owned subsidiary in Egypt had entered into a definitive agreement to acquire the retail banking business of HSBC Egypt.
    By Menna Alaa El-Din and Federico Maccioni
    3 Aug 2026
    Source: Reuters.
    Source: Reuters.

    • Under the transaction, Emirates NBD Egypt will acquire HSBC Egypt's retail banking portfolio along with associated branch and ATM network, customer base and "relevant" employee base.

    • The transaction remains subject to regulatory approvals and closing conditions.

    • The value of the transaction was not disclosed by Emirates NBD, but HSBC Group(HSBA.L) said in a separate statement on Sunday that the sale is expected to generate pre-tax gain of around $300m for the group.

    • It is expected to be finalised in the second half of 2027, subject to regulatory approvals, according to HSBC.

    • The sale of HSBC's Egyptian retail banking business is part of HSBC Group's wider restructuring.

    • HSBC, which has had a presence in Egypt since 1982, said in October 2025 that Egypt is "an important market" and "has strong potential for growth", adding that the review of the business in the country would not include its Egyptian wholesale banking activities.

    Share this article

    Source: Reuters

    Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

    Go to: https://www.reuters.com/
    TopicsNext
    Top stories
    More news
    Let's do Biz