{"id":685440,"date":"2026-02-23T00:00:00","date_gmt":"2026-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/23\/hsbc-says-its-committed-to-commercial-investment-banking-in-egypt-amid-reports-its-inching-closer-to-exiting-retail-franchise\/"},"modified":"2026-02-23T00:00:00","modified_gmt":"2026-02-23T00:00:00","slug":"hsbc-says-its-committed-to-commercial-investment-banking-in-egypt-amid-reports-its-inching-closer-to-exiting-retail-franchise","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/23\/hsbc-says-its-committed-to-commercial-investment-banking-in-egypt-amid-reports-its-inching-closer-to-exiting-retail-franchise\/","title":{"rendered":"HSBC says it\u2019s committed to commercial, investment banking in Egypt amid reports it\u2019s inching closer to exiting retail franchise"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>HSBC <\/strong><strong>Egypt remains commit<\/strong><strong>ted to Egypt for the long term<\/strong> even as it deliberates the fate of its retail business here, HSBC Middle East CEO Selim Kervanci and HSBC Egypt CEO Todd Wilcox told EnterpriseAM in an extended interview in Cairo earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cHSBC is very committed to Egypt as a strategic market in which we are squarely<\/strong><strong> focused on the needs of our corporate and investment banking clients<\/strong>,\u201d Wilcox said. \u201cWe conveyed that message to the finance minister and the central bank governor when we met [in mid-February 2026].\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Connecting Egypt to global prospects \u2014 and vice versa \u2014 is good business for HSBC<\/strong>, Wilcox said, noting that the bank regularly organizes roadshows and reverse roadshows that put Egypt on the map with global clients and investors from China, Singapore, the UK, and beyond. Multinationals appreciate that reach too: \u201cI was recently in Switzerland for meetings, and a very large Swiss multinational that we bank in multiple jurisdictions made clear that one reason it stays with HSBC globally despite being courted by many other institutions is that they can bank with us here in Egypt \u2014 Egypt is a key market for them.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HSBC <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/23\/hsbc-says-its-committed-to-corporate-and-institutional-clients-as-it-puts-its-retail-portfolio-here-in-strategic-review\/\" style=\"\" rel=\"noopener\">put its retail business here in Egypt in strategic review<\/a><\/strong><strong> last October.<\/strong> <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=21022026&id=18958de6-e483-4fe7-9b03-1726332d53ad\" style=\"\" rel=\"noopener\">A report in the<\/a><a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=21022026&id=18958de6-e483-4fe7-9b03-1726332d53ad\" style=\"\" rel=\"noopener\">domestic press<\/a> late on Saturday suggested that institutions including our friends at CIB and Emirates NBD, as well as QNB Al Ahli and at least one other institution, have begun due diligence on HSBC Egypt\u2019s retail portfolio as a prelude to a sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wilcox and Kervanci declined to speculate this earlier month on whether \u2014 or when \u2014 the <\/strong><strong>bank would push ahead with a sale of its retail accounts here. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why would HSBC sell its retail bank in Egypt, but continue to court commercial and<\/strong><strong> investment banking clients? <\/strong>HSBC Group is positioning the review of its retail operations in Egypt as part of its \u201congoing simplification globally.\u201d It has been pulling back from retail around the world, opting to focus in most markets on corporate and institutional banking as well as its private banking or \u201cwealth\u201d business. That process got underway in mid-2023, when then-CFO Georges Elhedery put 12 countries on an \u201c <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/asia-focused-hsbc-puts-12-countries-exit-watchlist-2023-05-24\/\" style=\"\" rel=\"noopener\">exit watchlist<\/a> \u201d \u2014 and accelerated after Elhedery <a target=\"_blank\" href=\"https:\/\/www.hsbc.com\/news-and-views\/news\/hsbc-news-archive\/georges-elhedery-becomes-our-new-group-chief-executive\" style=\"\" rel=\"noopener\">became CEO of the global bank in 2024<\/a> with a strategy to streamline and drive growth in core markets, including Asia and the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A big part of that drive is to focus on \u201cinternationally minded clients<\/strong>,\u201d Wilcox said, pointing to the influx of Chinese and Turkish manufacturers attracted by \u201cEgypt\u2019s clear competitive advantages.\u201d HSBC Egypt bankers report that appetite has been even stronger so far this year than in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HSBC Middle East Holdings Chairman Samir Assaf was also in Cairo earlier this month<\/strong><strong> for a meeting of the bank\u2019s Middle East board.<\/strong> After meeting with the teams at the Finance Ministry and CBE, he noted, \u201cWe remain committed to Egypt as a strategic market as we continue to invest in our people and strengthen our capabilities to support our customers as they navigate a dynamic global environment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HSBC by the numbers:<\/strong> The bank opened here in 1982 as the Hong Kong Egypt Bank and today has 4.2k staff (between the bank and its global service center) and 53 branches. In addition to the retail, corporate, and investment banking footprints, Egypt is also home to an HSBC global service center that provides support to the bank\u2019s global operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cHSBC is very committed to Egypt as a strategic market in which we are squarely focused on the needs of our corporate and investment banking clients,\u201d HSBC Egypt CEO Todd Wilcox told EnterpriseAM<\/p>\n","protected":false},"author":1,"featured_media":685441,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,72,490],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-685440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-enterpriseam","tag-hsbc","wpautop","entry"],"acf":{"mongo_id":"8c097bb6-dc7f-4247-8880-d0a3e118b09f","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/10\/1303.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HSBC says it\u2019s committed to commercial, investment banking amid reports it\u2019s inching closer to exiting retail franchise","related_issue":[685432],"teaser":"\u201cHSBC is very committed to Egypt as a strategic market in which we are squarely focused on the needs of our corporate and investment banking clients,\u201d HSBC Egypt CEO Todd Wilcox told EnterpriseAM"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HSBC says it\u2019s committed to commercial, investment banking in Egypt amid reports it\u2019s inching closer to exiting retail franchise - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Martin Tricaud, its group CEO for the Middle East, North Africa and Turkey, saying that the bank has \u201cambitious plans for growth in MENAT, which is positioned to be\u2026","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549915,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/cbe-move-to-raise-up-reserve-requirements-logical-says-hsbc-egypt-ceo\/","url_meta":{"origin":685440,"position":1},"title":"CBE move to raise up reserve requirements \u201clogical,\u201d says HSBC Egypt CEO","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"The Central Bank of Egypt\u2019s decision to increase the reserve ratio to 18% was \u201clogical\u201d given current global economic conditions, HSBC Egypt CEO and Deputy Chair Todd Wilcox told CNBC Arabia (watch, runtime 2:34). 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