HSBC Saudi Arabia
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| Company 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 |
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
[edit]
External links
[edit]- HSBC Saudi Arabia Archived 2008-05-16 at the Wayback Machine
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| Minority stakes and JVs |
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References
[edit]- ^ a b "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.[permanent dead link]
- ^ "Saudi Stock Exchange is a Top Destination for Foreign Equity Flows". Bloomberg. Retrieved 2023-06-16.
- ^ HSBC Group becomes major shareholder of its Saudi subsidiary, zawya.com