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4/11/25, 9:45 AM Al Ansari BFC Acquisition Boosts GCC Expansion
increase is symbolic of synergies as well as growth opportunities unlocked by the merger.

The deal marks the latest move by AAFS to expand geographically long-term growth and its value to its

shareholders through expanding its services.

Added this step reaffirms AAFS position as a strong competent in the regional financial services, with synergies to
take advantage of growth management across more than one high-performance markets.

Release date: October 3, 2021 In summary, Al Ansari Financial Services acquiring BFC Group Holdings is a
gamechanger in the region’s financial services industry. Despite ongoing questions over the validity of BFC’s
financial records from 2020, BFC’s strategic merger greatly expands AAFS’s physical footprint and operational

scale in the region. The partnership — which will offer a combined network of more then 410 branches and nearly
6,000 employees — is expected to create a powerful new force that will drive synergies, revenue growth and
cement AAFS’s position as a leading force in the foreign and remittance market across the GCC and beyond.

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