National Bank of Egypt to Acquire Banque Misr's UAE Branches

National Bank of Egypt is moving to acquire Banque Misr’s branches in the UAE after receiving preliminary approval from the Central Bank of the UAE.

The two Egyptian banks said they had reached an agreement in principle to reorganise their presence in the country, subject to the required legal, regulatory and procedural approvals.

Under the proposed arrangement, Banque Misr’s UAE operations would be transferred to NBE as the banks consolidate their foreign presence. Both institutions said the transition would be carried out in coordination with regulators while maintaining uninterrupted services and protecting customers’ rights.

The banks described the move as a response to changes in international banking markets and the requirements facing their overseas operations.