Large footprint

24 December 1999
SPECIAL REPORT BANKING

As a result of its well-established pedigree, HSBC Bank Middle East has the largest footprint of all international banks in the region, with 30 branches scattered throughout Bahrain, Oman, Qatar, Jordan, Lebanon, the Palestinian autonomous area and the UAE.

In addition to this direct presence, the HSBC group provides banking services to the region through a network of associates and subsidiaries. The group owns a 40 per cent stake in Egyptian British Bank and has a presence in the Saudi market through a40 per cent stake in Saudi British Bank (SBB), which includes an agreement by which SBB's managing director comes from HSBC staff.

Other affiliates providing banking services in the region include British Arab Commercial Bank (BACB) and HSBC Financial Services (Middle East). HSBC group members collectively hold a 46.5 per cent stake in BACB, the London-based institution which specialises in financing trade for the Arab world. From its headquarters in Dubai, HSBC Financial Services extends the groups broad investment banking capabilities into the region.

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