Al Ansari Completes Acquisition of Bahrain's BFC Group

Al Ansari Financial Services (AAFS), a leading UAE-based financial services group and the parent company of Al Ansari Exchange, has successfully acquired BFC Group Holdings for $200 million, following regulatory approvals. This acquisition positions AAFS as the largest non-banking financial institution in the Gulf region by branch network. The transaction increases AAFS's customer base by 29% and its branch network by 60%, extending its presence in Bahrain, Kuwait, and India. Known for its digital innovation, AAFS is set to integrate its digital model across BFC's operations, enhancing its dominance in the non-banking financial institution market. The acquisition strengthens AAFS's market leadership in remittances and foreign exchange, improves its geographic footprint, and complements its digital growth strategy. Operational synergies are expected to generate cost efficiencies and boost profitability, delivering substantial value to shareholders and customers.