National Bank of Egypt Set to Acquire Banque Misr UAE Branches

The National Bank of Egypt is set to acquire Banque Misr’s branches in the UAE under a preliminary agreement aimed at reorganizing the two banks’ presence in the country, pending approval from the Central Bank of the UAE.

Banque Misr announced the agreement in a statement, saying the move comes as both lenders reassess their overseas operations in response to shifting international banking markets and the requirements they expect to face in the period ahead. The restructuring will proceed in line with the UAE’s legal and regulatory procedures.

Under the plan, the two banks intend to consolidate their international banking presence while ensuring an orderly, smooth transfer of operations within the UAE. Both institutions emphasized that customer services will continue uninterrupted throughout the transition, with clients’ interests and rights fully protected.

Banque Misr thanked the Central Bank of the UAE and other relevant authorities for their cooperation and support during its time operating in the country, while the National Bank of Egypt said it looks forward to building a long-term banking and institutional relationship with the UAE and its regulatory and financial institutions. Both banks stressed that the transfer will be carried out in coordination with the relevant authorities and in full compliance with Central Bank requirements, safeguarding the rights of customers and all other parties involved with either institution.

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