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
   93   94   95   96   97   98   99   100   101   102   103