Selected UK banks in the Middle East

14 March 1997
SPECIAL REPORT BANKING

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

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