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HSBC Saudi Arabia

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This article is about the investment banking joint venture between HSBC and SABB. For the latter, see SABB (Saudi bank). For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.
HSBC Saudi Arabia Limited
Company typeLLC
IndustryBanking
Founded2005; 19 years ago (2005)
HeadquartersRiyadh, Saudi Arabia
ProductsInvestment banking
Islamic banking and finance
Asset management
Capital market
Number of employees
300[1]
ParentSABB
Websitewww.hsbcsaudi.com

HSBC Saudi Arabia Limited is a joint venture between The Saudi British Bank (SABB) and HSBC Holdings plc,[2] established in 2005, as a limited liability company headquartered in Riyadh, Saudi Arabia with a share capital of SAR 50 million (US$13.33 million).[3]

It is the first full-service, independent investment bank to be established in the Kingdom of Saudi Arabia,[4] and serves as HSBC’s investment banking arm in the Kingdom.

The bank provide services in corporate finance, asset management, equity brokerage and security. It employs more than 300 employees.[1] The bank is a component on the Tadawul Exchange.[5]

HSBC Holdings of Britain held 49% stake in the joint venture with SABB holding 51% until October 2019 when HSBC Group acquired shares from SABB to become the major shareholder with 51% stake.[6]

See also

References

  1. ^ a b "The HSBC Group in the Middle East" (PDF). HSBC. Archived from the original (PDF) on 25 September 2011. Retrieved 14 April 2012.
  2. ^ "About us". HSBC Saudi Arabia. Retrieved 14 April 2012.
  3. ^ "HSBC, SABB to Set Up Kingdom's First Independent Investment Bank". Arab News. 21 November 2005. Archived from the original on 1 September 2011. Retrieved 14 April 2012.
  4. ^ "HSBC and the Saudi British Bank to establish first independent investment bank in Saudi Arabia" (PDF). HSBC. 21 November 2005. Retrieved 14 April 2012.[permanent dead link]
  5. ^ "Saudi Stock Exchange is a Top Destination for Foreign Equity Flows". Bloomberg. Retrieved 2023-06-16.
  6. ^ HSBC Group becomes major shareholder of its Saudi subsidiary , zawya.com
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