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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