Amna Assem

The news quickly

Commercial International Bank – Egypt (CIB), the largest private bank in Egypt and listed on the Egyptian Stock Exchange, intends to acquire HSBC’s retail banking portfolio, according to a disclosure from CIB to the Egyptian Stock Exchange on Tuesday.

According to the disclosure, Commercial International Bank - Egypt has obtained approval from the Central Bank of Egypt to begin the due diligence process for the targeted portfolio, but this may not necessarily lead to the completion of a deal.

The statement did not provide any further details about the potential deal or its value.

About the two banks

(According to official data)

Commercial International Bank – Egypt was established in 1975, and the UAE-based company Alpha Oryx, a subsidiary of the sovereign wealth fund ADQ, owns a 14.27% stake in the bank, according to the latest data issued by the bank in January 2026.

As for HSBC Egypt Bank - it is a subsidiary of the HSBC Group, which operates in several countries. It began its operations in Egypt in 1982 and is one of the largest multinational banks in the country.

Quick background

This is not the first time that a potential deal to acquire HSBC Egypt's retail portfolio has been discussed.

In October 2025, media reports indicated that HSBC was considering selling its retail portfolio in Egypt in order to focus on corporate banking, and that it had entered into negotiations with potential buyers.

This month, reports also indicated that four banks operating in Egypt are competing for the potential deal.

Last year, HSBC sold the retail portfolio of its Bahrain subsidiary as part of a broad restructuring of its business.

(Prepared by: Omnia Assem, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com)

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