Emirates NBD acquisition of Banque du Caire pushes it to rank sixth in the list of the largest banks in Egypt

The financial community has been trading many news lately about Emirates NBD acquisition negotiations on Banque du Caire.

The official announcement of the transaction may be forthcoming, amid a vigorous follow-up by domestic and international financial institutions to the impact of the move on Egypt's banking environment.

In light of this, the First Bank website monitors the implications of the transaction for the competition map in the Egyptian banking market, particularly with the redistribution of market shares and the enhancement of the merged entity's financial leverage.

According to the banks' independent financial statements, Emirates NBD recorded a rise in its assets to 158.933 billion pounds by the end of 2024, while Cairo Bank made an exceptional leap in its assets to 483.099 billion pounds by the end of the same period.

According to these figures, the combined entity's total assets (Emirates NBD), if completed, will exceed the Pound642 billion barrier, rising to sixth place in the list of the largest banks operating in the Egyptian market.

In terms of market shares, the latest financial statements revealed that Emirates NBD registered a market share of 0.71% of total Egyptian banking assets by the end of September 2024, compared to 2.26% for Cairo Bank by the end of the same period.

Assuming the merger is completed, the new entity's market share will rise to 2.97%, becoming one of the most influential players in the market.

According to these figures, Emirates NBD will be in sixth place in the list of the largest banks in Egypt. (Instead of the current 16th place), the merger was completed to succeed the fifth-placed bank QNB Egypt, which accounted for 3.71% of the total assets of the banking sector to become the barrier separating Emirates NBD's entry into a list of the largest 5 banks in Egypt less than 1%.