HSBC's Indirect Subsidiary to Sell Egyptian Retail Banking Business to Emirates NBD Egypt

11:19 PM EDT, 08/02/2026 (MT Newswires) -- HSBC's (HSBA.L) indirect subsidiary HSBC Bank Egypt agreed to sell its retail banking business in Egypt to Emirates NBD Bank's (DFM:EMIRATESNBD) unit Emirates NBD Egypt. The deal includes retail loans, deposits and accounts, and employees, according to a Sunday release. Deal completion is anticipated in the second half of 2027, subject to regulatory approvals. The British lender noted that the transaction is expected to generate an estimated pretax gain of $300 million for the group, with an "immaterial" impact on its common equity tier 1 capital ratio.