Al Ansari Financial Services PJSC (AAFS), an integrated financial services group in the UAE and parent company of Al Ansari Exchange, has successfully finalized its acquisition of BFC Group Holdings (BFC). This deal, valued at USD 200 million, positions AAFS as the largest non-banking financial institution (NBFI) in the Gulf Cooperation Council (GCC) region, particularly in terms of branch network.

According to Zawya, the integration of BFC significantly enhances AAFS’s operational scale and geographic reach, increasing its customer base by 29% and expanding its branch network by 60%. This strategic move is expected to create substantial value for shareholders, customers, and employees alike. AAFS has been a leader in digital innovation within the financial services sector, with its award-winning Al Ansari Exchange app and a comprehensive suite of advanced digital solutions, aiming to improve efficiency, personalization, and fraud prevention through the integration of artificial intelligence.

Key impacts of the acquisition include AAFS’s reinforced market leadership as the largest NBFI in the GCC, where it secures the #1 position in Bahrain and #3 in Kuwait. The acquisition also enhances AAFS’s digital capabilities through BFC’s fintech expertise. The integration is anticipated to yield operational synergies, generating cost efficiencies that improve profitability and drive revenue growth.

Financially, the acquisition is expected to be immediately earnings-accretive, projecting a 20% increase in operating income and a 13% growth in both EBITDA and net profit after tax. Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, highlighted that this acquisition marks a pivotal step for the company, emphasizing their commitment to regional growth and innovation. He expressed confidence that this move would deliver long-term value for shareholders, noting the anticipated increase in cash flow following integration.

Looking ahead, AAFS aims to leverage its strengthened market position and expanded footprint to drive sustainable growth in key markets. The Group will continue to focus on unlocking new revenue streams and optimizing operational efficiencies while further accelerating its digital transformation strategy. The acquisition of BFC is set to open additional opportunities for strategic partnerships and product innovation across important remittance corridors.

BFC Group Holdings operates various financial services, including Bahrain Financing Company and Bahrain Exchange Company, and has been a trusted provider of money transfer and currency exchange solutions since 1917. The Group boasts over 160 branches worldwide and a global reach through partnerships with companies like MoneyGram and Transfast.