HSBC Saudi Arabia Limited is a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

between

The Saudi British Bank The Saudi British Bank (SABB) ( ar, البنك السعودي البريطاني (ساب)) is a Riyadh-based Tadawul#Banks .26 Financial Services, Saudi joint stock company in which United Kingdom, British banking firm HSBC Holdings PLC owns a ...

(SABB) and

HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...

Holdings plc, established in 2005, as a

limited liability company A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a ...

headquartered in

Riyadh Riyadh (, ar, الرياض, 'ar-Riyāḍ, lit.: 'The Gardens' Najdi pronunciation: ), formerly known as Hajr al-Yamamah, is the capital and largest city of Saudi Arabia. It is also the capital of the Riyadh Province and the centre of the R ...

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

with a share capital of

SAR SAR or Sar may refer to: Places * Sar (river), Galicia, Spain * Sar, Bahrain, a residential district * Sar, Iran (disambiguation), several places in Iran * Sar, Tibet, Tibet Autonomous Region of China * Šar Mountains, in southeastern Europe ...

50 million (US$13.33 million). It is the first full-service, independent

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

to be established in the Kingdom of

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. The bank is a component on the

Tadawul Saudi Stock Exchange () or Tadāwul () is a stock exchange in Saudi Arabia. Tadāwul was formed in 2007 as a joint stock company and the sole entity authorized to act as a securities exchange in Saudi Arabia, but trading began in 1954 as an info ...

Exchange. 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.HSBC Group becomes major shareholder of its Saudi subsidiary , zawya.com
/ref>

External links

HSBC Saudi Arabia

References

{{DEFAULTSORT:HSBC Saudi Arabia Banks of Saudi Arabia Saudi 2005 establishments in Saudi Arabia Banks established in 2005

See also

External links

References