HSBC has agreed to sell its Egyptian retail banking business to Emirates NBD Egypt as part of the global banking group’s continued portfolio simplification.
The transaction includes the assets and liabilities of HSBC Egypt’s entire retail banking operation, including customer loans, deposits, accounts and employees supporting the business.
HSBC expects the sale to generate a pre-tax gain of approximately $300 million, primarily recognized when the transaction closes.
The bank said the divestiture should have an immaterial impact on its Common Equity Tier 1 capital ratio.
The transaction is expected to close during the second half of 2027, subject to regulatory approvals.
HSBC said there will be no immediate changes for its retail customers in Egypt. Accounts, products and services will continue operating normally while HSBC and Emirates NBD prepare for the transfer.
Employees supporting the retail banking business will also transfer as part of the transaction.
The sale follows a strategic review of HSBC Egypt’s consumer banking operations announced in 2025.
HSBC said the decision forms part of a broader effort to concentrate on markets and business lines where it has a clear competitive advantage and stronger opportunities to increase scale and market share.
The bank will continue operating its corporate and institutional banking business in Egypt.
HSBC views Egypt as an important market for corporate banking and plans to support multinational companies operating in the country, domestic wholesale clients expanding internationally and trade and investment flows moving into and out of Egypt.
As of March 31, 2026, HSBC had approximately $3.31 trillion in assets and operated across 56 countries and territories.
