Page 38 - AAE PR REPORT - July 2024

Branch Network Expansion
Al Ansari Financial Services currently operates a substantial branch network. With the addition of BFC
Group Holdings’ branches, the combined entity will boast over 410 branches across the UAE, Bahrain,
Kuwait, and India. This represents a 60% increase in Al Ansari’s existing branch network, reinforcing its
position as a market leader.

Workforce Implications
The acquisition will also impact Al Ansari’s workforce. Currently, Al Ansari employs a significant number
of staff, and with the addition of approximately 6,000 employees from BFC Group Holdings, there will be a
25% increase in the total workforce. This expanded team will support the enhanced operational
capabilities of the combined entity.

Financial Impact
The consolidated revenues of Al Ansari Financial Services and BFC Group Holdings for the full year 2023
amounted to approximately $385 million (Dh1.4 billion). This reflects a 22% increase compared to Al
Ansari’s reported revenue, showcasing the financial benefits of the acquisition.

Market Position
Al Ansari’s acquisition of BFC Group Holdings positions it as a dominant player in the remittance and
exchange market. The expanded branch network and increased workforce will enhance its market share
and competitive advantage, making it the largest provider in the GCC region.

Sustainable Value for Shareholders
The acquisition is designed to deliver sustainable value and optimal returns for shareholders. Al Ansari
Financial Services has outlined strategies to ensure long-term growth and profitability, benefiting its
shareholders significantly.

Operational Integration
Integrating BFC Group Holdings into Al Ansari’s operations will be a critical step. The company plans to
implement a comprehensive integration strategy to ensure a smooth transition. While challenges are
expected, Al Ansari is prepared with solutions to address potential issues effectively.

Technological Advancements
Technology plays a crucial role in Al Ansari’s operations. The acquisition will facilitate the integration of
advanced technologies from both entities, enhancing service delivery and operational efficiency.
Customers can expect improved services and innovative solutions post-integration.

Customer Benefits
Customers will benefit significantly from this acquisition. The expanded branch network and enhanced
service offerings will increase convenience and accessibility for customers across the GCC region.
Improved customer service and a broader range of financial products are among the key benefits.

Regulatory Approvals

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