Al Ansari Financial Services (AAFS), a leading UAE-based financial services group and parent of Al Ansari Exchange, has completed its acquisition of BFC Group Holdings following all necessary regulatory approvals.
The transaction strengthens AAFS’s position as the largest non-banking financial institution (NBFI) in the GCC by branch network.
Valued at USD 200 million, the acquisition expands AAFS’s footprint across Bahrain, Kuwait and India, resulting in a 29% increase in its customer base and a 60% expansion in its branch network.
AAFS remains a pioneer in digital innovation, offering seamless and secure customer experiences through its award-winning Al Ansari Exchange app and a comprehensive suite of digital services.
The Group has also integrated artificial intelligence into various business functions, enhancing operational efficiency, personalisation, and fraud prevention.
AAFS now aims to implement its successful digital model across BFC Group entities, further solidifying its status as a digital-first NBFI in the region.
Strategic Impact
- Market Position: AAFS now leads the NBFI sector in the GCC, with dominant positions in remittances and foreign exchange.
- Geographical Expansion: The Group secures a leading position in Bahrain, ranks third in Kuwait, and extends its reach in India.
- Digital Growth: BFC’s fintech capabilities align with AAFS’s digital strategy, enhancing customer engagement.
- Operational Synergies: The integration is expected to yield economies of scale, drive cost efficiencies, and support revenue growth.
This acquisition significantly boosts AAFS’s scale, regional diversification, and digital capabilities, delivering long-term value to shareholders, clients, and employees.
