Emirates NBD Expands Egypt Footprint With HSBC Retail Banking Acquisition as Gulf Lenders Deepen Regional Push - Tekedia

Emirates NBD’s Egypt unit signed a definitive deal to buy HSBC Egypt’s retail banking franchise.

The acquisition includes branches, ATMs, customer relationships, and related staff, with closing expected in H2 2027 pending approvals.

HSBC said the sale should generate about a $300 million pre-tax gain and will not affect its Egypt wholesale banking business.

The deal gives Emirates NBD immediate scale in a major market and supports its broader Middle East expansion strategy.