HSBC Saudi Arabia Limited
TypeLLC
IndustryBanking
Founded2005 (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. 1 2 "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.
  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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