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8/2/24, 1:33 PM Al Ansari Financial Services to acquire BFC Group for $200mn - Arabian Business: Latest News on the Middle East, Real Estate, Fin…
Al Ansari Financial Services to acquire
BFC Group for $200mn
The transaction will result in 410 branches across the UAE, Bahrain,
Kuwait and India; Consolidated revenues in 2023 would have been
over $385 million
The acquisition will increase the number of AAFS’ current branch network by 60 percent across the UAE,
Bahrain, Kuwait, and India
As part of its plans to expand its presence across the region, Dubai-based Al Ansari
Financial Services has agreed to acquire 100 percent of Bahrain’s BFC Group Holdings
(BFCGH), a prominent foreign exchange and remittance company, for a total price of $200
million (AED735 million).
The combined entity will have over 410 branches, and it enables Al Ansari Financial Services
(AAFS) to become the largest remittance and exchange provider in the GCC region in terms
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