HSBC Group to Review Retail Banking Operations in Egypt
HSBC Egypt announced that its parent company, HSBC Holdings plc, will conduct a strategic review of the bank’s retail banking operations in Egypt, as part of the group’s ongoing global restructuring and simplification program.
According to the bank’s statement, the move follows similar reviews carried out earlier this year in Australia, Indonesia, Sri Lanka, and Bangladesh, as well as the sale of retail banking operations in Bahrain.
The review will focus solely on HSBC Egypt’s personal banking business and will consider all strategic options, the group said, emphasizing that no final decisions have been made at this stage.
HSBC confirmed that the review does not affect its corporate and institutional banking operations in Egypt, reaffirming the country’s status as an important market with strong growth potential in trade finance and institutional investment.
The initiative forms part of HSBC’s global simplification strategy, aimed at enhancing operational efficiency and redirecting investment toward markets and business lines offering stronger competitive advantages and growth opportunities.
The group reiterated its commitment to supporting corporate and institutional clients in Egypt and facilitating trade and investment flows to and from the country, noting that further updates will be announced in due course.