Dubai – Mubasher: Al Ansari Financial Services concluded its acquisition of BFC Group Holdings after receiving all the required regulatory approvals, according to a press release.
The transaction reinforced the DFM-listed company’s position as the largest non-banking financial institution (NBFI) in the GCC region in terms of branch network.
It also expands its business across Bahrain, Kuwait and India, increasing the group’s customer base by 29% and branch network by 60%.
The integration of BFC Group is expected to enhance Al Ansari Financial Services’ operational scale, provide substantial value for shareholders, customers, and employees.
As for the financial impact, the acquisition is immediately earnings-accretive, with double-digit EBITDA growth.
Based on 2024 data, the operating income is forecast to increase by 20% and net profit after tax is expected to rise by 13%.
Rashed Al Ansari, Group CEO of Al Ansari Financial Services, commented: “We are confident that this move will deliver long-term value for our shareholders. Moreover, the anticipated boost in cash flow post-integration reinforces our commitment to providing strong returns for our investors.”
The company announced the acquisition process at a value of $200 million (AED 735 million) in July 2024.
