Selected UK banks in the Middle East

14 March 1997

HSBC Holdings

Worldwide assets: $351,000 million (1995)

Middle East: British Bank of the Middle East (assets $4,962 million); 40 per cent of Saudi British Bank (assets $9,948 million) through BBME; 40 per cent of Egyptian British Bank (assets $276 million). HSBC Financial Services (Middle East) in Dubai; offshore banking unit in Bahrain. Setting up investment banking unit in Egypt with Egyptian British Bank.

Recent deals (last six months) include: Lead manager for Al-Ahram Beverages Co GDR (Egypt); advisor on Ibn Rushd petrochemical plant expansion in Saudi Arabia, placing agent for Egypt investment fund set up by Banque Misr and Concord Group of the US.

Barclays Bank/Barclays de Zoete Wedd (BZW)

Worldwide assets: $261,700 million (1995)

Middle East: Branches in Abu Dhabi and Dubai; 49 per cent of Banque du Caire Barclays International.

Recent deals include: Arranger on Qatargas upstream financing. Co-arranger on loan finance for Rasgas and Oman LNG.

NatWest Group

Worldwide assets: $164,300 million (1996)

Middle East: brokerage subsidiary in Turkey.

Recent deals include: Arranger and underwriter on $2,250 million financing for Oman LNG and $570 million upstream finance for Qatargas, arranger for export credit agency financing for Midor oil refinery in Egypt. Co- arranger on syndicated loans for Oman, Tunisia and Qatar.

Royal Bank of Scotland

Worldwide assets: $80,651 million (1995)

Middle East: -

Recent deals include: Co-arranger on Rasgas loan finance. Largest non- Arab lender in expansion financing for Dubai Aluminium Company.

Source: MEED, The Banker

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications