HSBC Egypt retail sale to Emirates NBD ends 44 years of consumer banking, books a US$300 million pre-tax gain and leaves HSBC's corporate bank in Cairo.
Egypt · Banking
Key Facts
The deal. HSBC has agreed to sell the entire retail banking business of HSBC Bank Egypt to Emirates NBD Egypt, Dubai’s state-controlled banking group.
The gain. HSBC expects a pre-tax gain of around US$300 million, to be recognised mainly on completion, with no material impact on its core capital ratio.
The timeline. The transaction, announced on 2 August 2026, is expected to close in the second half of 2027, subject to Central Bank of Egypt approval.
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