Al Ansari Financial Services Completes Acquisition of BFC Group, Becoming the Largest Non-Banking Financial Services Provider in the GCC
This transformative USD 200 million transaction expands AAFS's presence across Bahrain, Kuwait and India, increasing the Group's customer base by 29% and branch network by 60%. The integration of BFC enhances AAFS's operational scale and geographic diversification, creating substantial value for shareholders, customers, and employees.
Leading the Digital Frontier:
AAFS has long been at the forefront of digital innovation in the financial services sector. With its award-winning Al Ansari Exchange app and a full suite of advanced digital solutions, the Group continues to lead the market in delivering seamless, secure, and customer-centric experiences. AAFS has also been actively integrating artificial intelligence across various business functions to enhance efficiency, personalisation, and fraud prevention. The Group now intends to replicate its digital model across BFC Group entities further strengthening AAFS's position as a dominant digital-first player in the NBFI landscape.
Strategic Impact and Value Creation: Market Leadership: AAFS is now the largest non-banking financial services provider in the GCC, reinforcing its dominance in remittances and foreign exchange.
Geographic Expansion: The acquisition strengthens AAFS's regional footprint, securing a #1 market position in Bahrain, #3 in Kuwait, and access to a wider customer base in India, in addition to its leading position in the UAE remittance and foreign exchange market.
Enhanced Digital Capabilities: BFC's fintech expertise and digital solutions complement AAFS's growth strategy and current digital solutions, accelerating customer engagement.
Operational Synergies: The integration is expected to benefit from economies of scale generating cost efficiencies, improving profitability and driving revenue growth.
Financial Impact:
The acquisition is immediately earnings-accretive, with double-digit EBITDA growth.
The consolidated financial impact based on 2024 data (subject to any post-acquisition adjustments / integration impact) is as follows: Estimated 20% increase in operating income.
EBITDA projected to grow by 13%.
Net profit after tax expected to grow by 13%.
Stronger cash flow generation, enhancing dividend distribution potential.
Rashed A. Al Ansari Group CEO of Al Ansari Financial Services commented: 'Today's acquisition represents a pivotal step for Al Ansari Financial Services, underscoring our dedication to regional growth, innovation and enhancing our financial strength. 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.'
Future Outlook:
With a strengthened market position and an expanded footprint, AAFS is well-positioned to drive sustainable growth across key markets. The Group remains focused on unlocking new revenue streams, optimising operational efficiencies, and accelerating digital transformation. The acquisition of BFC is expected to unlock further opportunities for strategic partnerships, product innovation, and market penetration across key remittance corridors.
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Al Ansari, Group CEO of Al Ansari Financial Services, said: 'We continue our strong momentum in the first half of 2025, building upon our positive first-quarter results coupled with the consolidation of BFC results into the Group during the second quarter. Despite the ongoing geopolitical challenges and fierce competition, we achieved solid growth across our business segments through our focus and discipline on execution and customer experience. Our results are a testament to the strength of our business model, the trust of our customers, and our commitment to delivering accessible, technology-driven financial solutions. We continue to successfully grow our customer base and market share, underscoring the resilience of our brand. The continued growth in digital transactions reflects our increased efforts to drive innovation and expand access to essential financial services. 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Designed with accessibility and ease-of-use in mind, the wallet will empower customers to store, send, and spend money more conveniently and securely than ever before. We remain focused on seamless integration, operational excellence, and value add opportunities that will reinforce our market leadership in the sector.
