HSBC Saudi Arabia
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]
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| Type | LLC |
|---|---|
| Industry | Banking |
| Founded | 2005 |
| Headquarters | Riyadh, Saudi Arabia |
| Products | Investment banking Islamic banking and finance Asset management Capital market |
Number of employees | 300[1] |
| Parent | SABB |
| Website | www |
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.
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.[5]
External links
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References
- "The HSBC Group in the Middle East" (PDF). HSBC. Archived from the original (PDF) on 25 September 2011. Retrieved 14 April 2012.
- "About us". HSBC Saudi Arabia. Retrieved 14 April 2012.
- "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.
- "HSBC and the Saudi British Bank to establish first independent investment bank in Saudi Arabia" (PDF). HSBC. 21 November 2005. Retrieved 14 April 2012.
- HSBC Group becomes major shareholder of its Saudi subsidiary , zawya.com