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HSBC to Sell Egyptian Retail Banking Business to Emirates NBD

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HSBC to Sell Egyptian Retail Banking Business to Emirates NBD

HSBC (HSBA.L) decided to sell its retail banking portfolio in Egypt to Emirates NBD Bank (DFM:EMIRATESNBD) as part of an ongoing broader restructuring process.

HSBC said Sunday its indirect subsidiary, HSBC Bank Egypt, signed terms for the sale of its retail banking business to Emirates NBD Bank's Emirates NBD Egypt.

The deal includes HSBC Bank Egypt's retail loans, deposits and accounts, and the employees supporting the transferring business. Deal value was not disclosed, but HSBC said it expects a pre-tax gain of $300 million from the sale. Subject to regulatory clearances, the deal is expected to close in the second half of 2027.

"Egypt remains an important market for HSBC with strong growth potential, and the bank will continue to support its corporate and institutional banking clients in the country," the bank said.

The London-listed lender initiated a strategic review for its retail business in Egypt during October 2025, as part of an ongoing simplification of its global operations. The bank said at the time it "is focused on increasing leadership and market share in the areas where it has a clear competitive advantage and where it has the greatest opportunities to grow and support its clients."

Emirates NBD, which currently has over 67 branches in Egypt, entered the country in 2013 through the acquisition of BNP Paribas' (BNP.PA) subsidiary.

Shares in HSBC were up more than 1% in London, while those of Emirates NBD rose over 2% in Dubai during early Monday trading.

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