Page 98 - AAE PR REPORT - July 2024
P. 98
Dubai: Al Ansari Financial Services fully
acquires Bahrain’s BFC Group for Dh735
million
Story by Waheed Abbas
• 22h • 2 min read
Photo: Supplied© Provided by 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.
https://www.msn.com/en-ae/money/news/dubai-al-ansari-financial-services-fully-acquires-
bahrain-s-bfc-group-for-dh735-million/ar-BB1qRYgM?ocid=BingNewsSerp