Emirates NBD to Acquire HSBC Egypt's Retail Banking

Aug 2, 2026

69 min

Aug 2, 2026 13:32

Emirates NBD to acquire HSBC Egypt's retail banking business

## Expansion in Egypt

Emirates NBD, a prominent UAE bank, has announced plans to acquire HSBC Egypt's retail banking operations. This move is part of Emirates NBD's strategy to strengthen its presence in Egypt, a key market for the bank's regional growth.

## Details of the Acquisition

The acquisition involves Emirates NBD Egypt, a subsidiary of the Dubai-listed bank, taking over HSBC Egypt's retail banking portfolio. This includes customer accounts, branch and ATM networks, and the employees who support these operations. The transaction is pending regulatory approvals and other customary conditions.

## Strategic Importance

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, emphasized the bank's confidence in Egypt's economic potential. The acquisition is seen as a significant step in expanding Emirates NBD's footprint in Egypt and enhancing its ability to serve customers with comprehensive banking solutions.

## Regional Growth

Emirates NBD has been expanding its international operations, with overseas activities contributing significantly to its income. The bank operates in 13 countries, serving over 25 million customers. As of mid-2026, Emirates NBD reported total assets of approximately $360 billion.

## Emirates NBD Egypt's Current Operations

Currently, Emirates NBD Egypt operates 64 branches across various regions in Egypt, supported by over 2,300 employees. The acquisition of HSBC Egypt's retail banking business is expected to increase the scale and reach of Emirates NBD Egypt in the country's banking sector.

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