Al Ansari Financial Services Completes BFC Group Acquisition
Deal News | Apr 10, 2025 | Zawya
Al Ansari Financial Services PJSC (AAFS) has successfully completed the acquisition of BFC Group Holdings for $200 million, solidifying its position as the largest non-banking financial institution in the Gulf Cooperation Council region by branch network. The acquisition expands AAFS's presence into Bahrain, Kuwait, and India, boosting its customer base by 29% and its branch network by 60%. AAFS, known for its digital innovation in financial services, plans to integrate its digital solutions into BFC Group entities. Strategically, the acquisition positions AAFS as a market leader in remittances and foreign exchange across the GCC, reinforces its dominance, and enhances its operational scale with significant geographic diversification. The deal is expected to generate financial accretions, including a 20% increase in operating income, 13% growth in EBITDA, and improved profitability. The integration aims to unlock revenue streams, enhance operational efficiency, and drive growth through synergies, digital transformation, and strategic partnerships.
Sectors
- Financial Services
- Digital Payments
Geography
- United Arab Emirates – The primary location of Al Ansari Financial Services and the location of its largest market and corporate headquarters.
- Bahrain – One of the new markets where AAFS has expanded its presence through the acquisition of BFC Group.
- Kuwait – A country where AAFS has established a market presence through the BFC Group acquisition.
- India – A strategically important market for Al Ansari Financial Services following the BFC Group acquisition.
Industry
- Financial Services – This industry involves the provision of financial products and services, including banking, investment, remittances, foreign exchange, and financial technology solutions. Al Ansari and BFC Group are key players in this sector.
- Digital Payments – The digital payments industry refers to the use of electronic means to transfer money. Al Ansari's advanced digital solutions and its focus on digital innovation highlight its significant role in this industry.
Financials
- USD 200 million – The acquisition price for BFC Group Holdings by Al Ansari Financial Services.
- 20% – The estimated increase in operating income post-acquisition.
- 13% – The forecasted growth in EBITDA following the acquisition.
- 13% – The expected growth in net profit after tax due to the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Al Ansari Financial Services PJSC | Acquirer | Company | A leading integrated financial services group in the UAE, providing remittance, foreign exchange, and digital payment solutions. |
| BFC Group Holdings | Target | Company | A financial services group with operations in Bahrain, Kuwait, and India, known for remittances and currency exchange. |
| Rashed A. Al Ansari | CEO | Person | Group CEO of Al Ansari Financial Services, overseeing the acquisition and integration of BFC Group. |