HSBC Bank Middle East
|Subsidiary of HSBC Holdings plc|
|Industry||Finance and Insurance|
|Headquarters||Saint Helier, Jersey, Channel Islands|
|Slogan||The world's local bank|
HSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East. The bank has received several awards in various categories.
Middle East banking
HSBC maintains a network of offices in various countries in the Middle East. Operations of the group in the Middle East are under this subsidiary, and it forms the regional headquarters the area, making it is responsible for the management of the group's stake in British Arab Commercial Bank.
Algeria is part of HBME since 2009 and has two branches in Algiers. The bank offers banking products and services for Corporate and Retail Banking and Wealth Management.
The bank's network in Bahrain extends to seven locations, including an offshore banking unit. HSBC provides a range of banking services for both corporate and individual customers in Bahrain. HSBC is the largest foreign bank in Bahrain and has branches, in Manama, Seef, Adliya, Manama and Muharraq as well as a large network of ATMs at 17 different locations.
British Bank of the Middle East opened a branch in 1975 that it closed in 1986, having failed to adapt itself to the market.
Arab Jordan Investment Bank (AJIB) acquired HSBC Jordan on 19 June 2014. At 30 September 2013, HSBC Jordan's banking business comprised four branches with gross assets of approximately $1.2 billion. Almost all employees were expected to transfer to AJIB. British Bank of the Middle East had established itself in Jordan in 1949. At one point it had a branch in Jordanian-administered Jerusalem.
HSBC started operations in Kuwait in 2005 with a capital of KD 15,000,000/-. The branch located in Kuwaiti City at the Khorafi Tower next to the Church. With the one branch policy for international banks HSBC Kuwait is offering full corporate banking, treasury services, custody, investment banking, private banking, and Premier retail banking.
Having entered Lebanon in 1946, HSBC has maintained its presence ever since. A network of three offices in St. Georges Bay, Dora,and Ras Beirut is supported by telephone and internet banking services.
HSBC Bank Oman S.A.O.G has operated in the Sultanate since 1948, it provides a wide range of banking services for both corporate and individual customers. In recent years HSBC Oman has expanded to over 90 branches and in addition has a full-service trading operation, private banking operation, and a custodial service for the Muscat Securities Market. The bank has several dedicated 'Premier' Customer Service Centres in key expatriate residential areas. In 2012, HSBC merged with Oman International Bank and by the end of 2012 all OIB branches had been rebranded as HSBC Bank Oman S.A.O.G. Unfortunately the service has deteriorated after the merger.
HSBC Advance Credit Card and HSBC Premier Credit Card holders receive various unpublished benefits such as a complimentary copy of the 'Entertainer' voucher book and access to the Plaza Premium Lounge at Muscat International Airport.
HSBC has in recent years upgraded its services to include Mobile Banking, Phone Banking and Internet Banking including the recent introduction of the SecureKey and apps available on the Apple app store. They also offer SMS alerts for all transactions that take place on the account including withdrawals, transfers and purchases.
HSBC Advance and Premier customers have access to the 'Global View' service with HSBC allowing them to link overseas HSBC accounts and make instant transfers between all of their international accounts. Advance and Premier customers also have dedicated and exclusive Customer Services Centres in Madinat al Sultan Qaboos and Azaiba, in addition to dedicated service areas in certain main branches such as Qurum and Ruwi.
HSBC started its operations in Pakistan in 1982. Since then, it has expanded to all major cities of Pakistan and operates as a full-service bank. It currently has 10 offices, 24/7 telephone call centre, and HSBC Premier. The bank also offers NRP (non-resident Pakistani) services. Out of its branches, four are located in Karachi, two in Lahore, and one each in Islamabad, Rawalpindi, Faisalabad, and Sialkot. All the cities served also offer Premier Centres. HSBC's offices in Pakistan were operated by The Hongkong and Shanghai Banking Corporation. In 2008, The Hongkong and Shanghai Banking Corporation sold Pakistan banking business to HSBC Bank Middle East Limited.
On 9 May 2014 HSBC Bank Middle East ('HBME'), entered into an agreement to sell its banking business in Pakistan to Meezan Bank (Meezan). The transaction, which is subject to regulatory and other customary approvals, including the approval of the direct shareholders in HBME and Meezan, is expected to complete during the second half of 2014. At 31 December 2013, the business comprised 10 branches and had gross assets of PKR48bn (approximately US$455m). All employees in the business, with a very small number of exceptions, will be offered positions with Meezan upon completion.
HSBC has been present in Qatar since 1954. The bank offers a full range of cross border banking products and services from Commercial and Global Banking to Retail Banking and Wealth Management and Offshore banking.
HSBC is the largest foreign bank in Qatar and has four branches in Doha (Airport Road), Al Sadd, West Bay and Salwa as well as a large network of ATMs at 22 different locations.
United Arab Emirates
The United Arab Emirates represents a key part of HSBC's business, with 24 branches and offices. It is also the location of HSBC's regional head office.
Board of directors (as of 21 May 2014)
- David G Eldon (Chairman)
- Mohammad Al Tuwaijri (Deputy Chairman and CEO)
- Abdulfattah Sharaf (CEO for the United Arab Emirates)
- Raja Al Gurg
- Christopher J M Keirle
- Alain Keir
- A Robin Monro-Davies
- Abdul Hakeem Mostafawi
- Sir William Patey
- Thomas L Slattery
- Chris Spooner
- Nicholas G Winsor
Citations and references
- Alwan and Mibrathi (2000), p.20.
- Alwan, Daoud Aboubakern, and Yohanis Mibrathu (2000) Historical Dictionary of Djibouti. (Scarecrow Press). ISBN 9780810838734