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7/31/24, 9:32 AM Dubai: Al Ansari Financial Services Fully Acquires Bahrain's BFC Group For Dh735 Million
Dubai: Al Ansari Financial Services Fully
Acquires Bahrain's BFC Group For Dh735
Million
Date Share on Facebook Tweet on Twitter
7/30/2024 3:32:55 PM
(MENAFN- Khaleej Times) Al Ansari financial Services on Tuesday said that it has fully
acquired Bahrain-based BFC Group for $200 million (Dh735 million).
The consolidated revenues of the combined entity stood at Dh1.4 billion for the 2023 financial
year, a 22 per cent rise compared to Al Ansari's reported revenues.
The Acquisition will make the Dubai-based company the largest remittances and
exchange Service Provider in the GCC region by branch network with more than 410
branches. The new deal will increase Al Ansari's current branch network by 60 per cent across
the UAE, Bahrain, Kuwait and India. Similarly, its workforce will expand by 25 per cent to
6,000 employees across the region.
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