Page 33 - AAE PR REPORT - July 2024

Al Ansari recognised BFC as a unique player with a substantial market presence
and significant market share across key GCC and Asian markets, including
Bahrain, Kuwait, and India.

The acquisition aligns with Al Ansari’s strategic growth objectives of expanding
its geographic footprint, growing its physical branch network, and enhancing its
service portfolio. Integrating BFC with Al Ansari reinforces the UAE exchange’s
market leadership and unlocks new avenues for sustainable growth,
demonstrating the company’s commitment to delivering long-term value to its
shareholders.

The consolidated revenues of Al Ansari and BFC for FY 2023 amounted to
approximately $385 million (AED 1.4 billion), reflecting a 22% rise compared to
Al Ansari’s reported revenue. Leveraging operating and cost synergies in the
post-acquisition phase will significantly benefit Al Ansari.

https://www.arabiya-capital.com/banking-and-finance/digital-payments/al-ansari-to-acquire-
bahrains-bfc-group-holdings-for-200-million/