HSBC agrees to sell Egypt retail banking business to Emirates NBD
HSBC Holdings agreed to sell HSBC Bank Egypt’s retail banking business to Emirates NBD Egypt, covering retail loans, deposits, accounts, and related staff.
Completion is expected in H2 2027, subject to regulatory approvals.
The deal is expected to generate an estimated pre-tax gain of about USD 0.3 billion, with an immaterial impact on the CET1 ratio.
HSBC will keep its corporate and institutional banking franchise in Egypt, positioning the move as part of a broader simplification strategy.
No immediate changes are expected for HSBC Egypt retail customers while the transition is prepared.
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