{"id":685966,"date":"2026-02-25T00:00:00","date_gmt":"2026-02-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/25\/cib-says-it-received-the-green-light-to-start-due-diligence-on-hsbc-egypts-retail-franchise\/"},"modified":"2026-02-25T00:00:00","modified_gmt":"2026-02-25T00:00:00","slug":"cib-says-it-received-the-green-light-to-start-due-diligence-on-hsbc-egypts-retail-franchise","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/25\/cib-says-it-received-the-green-light-to-start-due-diligence-on-hsbc-egypts-retail-franchise\/","title":{"rendered":"CIB says it received the green light to start due diligence on HSBC Egypt\u2019s retail franchise"},"content":{"rendered":"

CIB is set to beg<\/strong>in due diligence on HSBC Egypt\u2019s retail banking portfolio<\/strong>, the EGX30 bellwether said in a regulatory filing (pdf)<\/a>, noting it has received the go-ahead from the Central Bank of Egypt to kick off the process. It\u2019s the first formal confirmation that a process which could see HSBC divest its retail franchise here has moved beyond the exploratory phase.<\/p>\n

As you\u2019d expect, HSBC is keeping its cards close:<\/strong> \u201cThe strategic review of our retail banking business is ongoing,\u201d the bank tells us. \u201cThe review is considering all options for our retail business, and no decisions have been made. Further announcements will be made if or when necessary.\u201d<\/p>\n

Whatever happens with retail, HSBC has made clear it\u2019s not leaving Egypt.<\/strong> CEO Todd Wilcox and HSBC Middle East CEO Selim Kervanci told EnterpriseAM<\/a> in an extended interview earlier this week that the bank remains \u201cvery committed to Egypt as a strategic market\u201d and is focused squarely on its corporate and investment banking clients. Wilcox noted that more and more global manufacturers are coming to Egypt, attracted by the nation\u2019s \u201cclear competitive advantages.\u201d HSBC Egypt bankers report that appetite has been even stronger so far this year than in 2025.<\/p>\n

CIB is not the only potential suitor for HSBC\u2019s retail business in Egypt if the latter <\/strong>decides to sell.<\/strong> Emirates NBD, QNB Al Ahli, and Fab Misr are all reportedly interested in the portfolio.<\/p>\n

SOUND SMART-<\/strong> Fab Misr is now led in Egypt by Ahmed Issa<\/a>, a former top CIB executive.<\/p>\n

Kervanci, Wilcox, and HSBC Middle East Holdings Chairman Samir Assaf<\/strong> met earlier this month with Central Bank of Egypt Governor Hassan Abdullah and Finance Minister Ahmed Kouchouk, Assaf said, telling them, \u201cWe remain committed to Egypt as a strategic market as we continue to invest in our people and strengthen our capabilities [here].\u201d<\/p>\n

Our take: <\/strong>We\u2019re good friends with the folks at HSBC Egypt \u2014 and at CIB. Fab Misr\u2019s Issa is also a friend, and we\u2019re honored to count a who\u2019s who of top bankers among our readers. So\u2026 color us conflicted here. Still, two things are crystal clear to us. First, HSBC is serious when it says it has zero plans to exit Egypt, regardless of what it decides to do with its retail franchise. Second, we\u2019re in the very early days of any potential transaction. People getting the green light to dial into a VDR are miles away from a sale. There\u2019s a lot left for everyone to do \u2014 from offers submitted and reviewed to a decision to sell and obtaining CBE approval. Anyone doing due diligence is going to be bound by a strict NDA, so expect relatively little on-the-record news from here through execution. This is going to be one of the \u201cbig banking stories of the year\u201d until much, much closer to year-end than we are now.<\/p>\n

BACKGROUND- <\/strong>HSBC put its Egyptian retail operations in strategic review last October as part of a broader global simplification under CEO Georges Elhedery, who has been pulling the bank back from retail in most markets to focus on corporate and investment banking as well as its wealth business.<\/p>\n

(** 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":"

CIB is not the only potential suitor for HSBC\u2019s retail business in Egypt if the latter decides to sell, with three other major players also said to be interested<\/p>\n","protected":false},"author":1,"featured_media":685967,"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":[204,240,1060,72,12557,9016,7128,12558],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-685966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-cib","tag-emirates-nbd","tag-enterpriseam","tag-fab-misr","tag-hsbc-egypt","tag-ma-watch","tag-qnb-al-ahli","wpautop","entry"],"acf":{"mongo_id":"22919a18-e591-41ce-8bde-7e264adfb037","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/1\/437.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Has 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franchise","author":"enterpriseam admin","date":"23 February 2026","format":false,"excerpt":"\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","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":674214,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/26\/hsbc-says-its-here-to-stay-for-corporate-clients-as-it-reviews-the-fate-of-its-retail-business\/","url_meta":{"origin":685966,"position":1},"title":"HSBC says it\u2019s here to stay for corporate clients as it reviews the fate of its retail business","author":"enterpriseam admin","date":"26 October 2025","format":false,"excerpt":"HSBC Group\u2019s review of its retail bank in Egypt comes as it looks to \u201csimplify\u201d globally, but it\u2019s business as usual for now","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548003,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/","url_meta":{"origin":685966,"position":2},"title":"Euromoney awards for HSBC, EFG Hermes and CIB","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"EFG Hermes, HSBC and CIB walked away with awards from the 2022 Euromoney Awards for Excellence last week. HSBC was named best bank for environmental, social and governance (ESG) standards in Egypt and received the awards for the Middle East\u2019s best investment bank and best bank for sustainable finance for\u2026","rel":"","context":"In "Kudos"","block_context":{"text":"Kudos","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/kudos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":674154,"url":"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\/","url_meta":{"origin":685966,"position":3},"title":"HSBC says it\u2019s committed to corporate and institutional clients as it puts its retail portfolio here in \u201cstrategic review\u201d","author":"enterpriseam admin","date":"23 October 2025","format":false,"excerpt":"Good afternoon, friends, we\u2019ve made it through another week together \u2014 and our reward is big news this afternoon to send you packing into the weekend:THE BIG STORY TODAY-?HSBC Group is launching a \u201cstrategic review\u201d of its retail business here, the global bank said in a statement (pdf) released this\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/569.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592752,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/05\/cbe-grants-hsbc-emirates-nbd-license-to-use-qr-codes-for-e-payments\/","url_meta":{"origin":685966,"position":4},"title":"CBE grants HSBC, Emirates NBD license to use QR codes for e-payments","author":"enterpriseam admin","date":"5 November 2019","format":false,"excerpt":"The Central Bank of Egypt has granted HSBC and Emirates NBD the e-admission license that uses QR Codes for enhanced electronic payment, according to Al Mal. There are now nine banks in Egypt using this new technology, including the National Bank of Egypt, Banque Misr, CIB, Arab African International Bank,\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547493,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/23\/hsbc-hires-a-new-regional-head-of-wealth-and-personal-banking\/","url_meta":{"origin":685966,"position":5},"title":"HSBC hires a new regional head of wealth and personal banking","author":"enterpriseam admin","date":"23 June 2022","format":false,"excerpt":"HSBC has appointed Dinesh Sharma (LinkedIn) as regional head of wealth and personal banking for EMEA, effective 1 September, according to a press release picked up by Zawya. Shama will join the bank from Citigroup, where he has served as CEO and managing director of its Middle East retail bank\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=685966"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685966\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/685956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/685967"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=685966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=685966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=685966"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=685966"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=685966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}