HSBC Egypt has been operating in the country for almost 45 years, with a network of 46 branches.
The sale is expected to be completed in the second half of 2027. It covers HSBC Egypt's retail banking business and related assets, liabilities, loans, deposits, customer accounts, employees, and ATM network.
No changes will be made for HSBC Egypt's existing retail customers, with all HSBC products and services continuing to operate as normal.
The bank will continue to support its institutional and corporate banking clients in Egypt, as the country remains an important market for the bank with strong growth potential.
Furthermore, the sale is part of HSBC's simplification plan, as it focuses on increasing its leadership and market share in areas where it has a competitive advantage and growth opportunities.
HSBC sees Egypt as an emerging key hub for global trade, offering investors a strategic export base with multiple trade agreements and access to key markets in the Middle East, Europe, and the United States.
According to HSBC's statement, the bank is committed to positioning itself as a bridge for trade and investment flows, supporting multinational clients operating in Egypt while helping domestic wholesale clients achieve their international goals.
In the first quarter of 2026, which ended on 31 March, HSBC Egypt's retail banking business reported a profit of EGP 948.4 million, an 8.82 percent year-on-year decrease from EGP 1.04 billion in the same period a year earlier, according to the bank's financial statements.
In October 2025, HSBC announced it would conduct a strategic review of its retail banking business in Egypt, excluding its corporate and institutional banking activities. The bank hinted at a potential divestment of its retail banking business in Egypt after announcing its decision to sell its retail banking business in Bahrain earlier that year. HSBC also completed strategic reviews in Australia, Indonesia, Sri Lanka, and Bangladesh that same year.
The sale will also strengthen Emirates NBD Egypt's position as a leading retail banking franchise in Egypt, according to the bank's disclosure to the Dubai Financial Market.
The move will allow Emirates NBD to expand its presence in Egypt, deepen economic ties between the UAE and Egypt, and grow its customer base in line with the bank's regional growth strategy.
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