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The bank was founded in 1972 as UBAF Limited and changed its name to UBAF Bank Limited in 1977. It began as an affiliate of Midland Bank, and became an affiliate of HSBC when HSBC took over Midland Bank in 1992. The bank adopted the name British Arab Commercial Bank in 1996.
It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023. [7] In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA). [4] HSBC traces its origin to a hong trading house in British Hong Kong.
This list is based on the April 2024 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon total assets as reported and was not adjusted for different accounting treatments. [1] Another publication which compiles an annual list of the world's largest banks is The Banker magazine.
HSBC Bank Egypt was established in 1982 as Hongkong Egyptian Bank with 40% HSBC ownership. In January 1994, the bank was renamed Egyptian British Bank under the same shareholding structure. The bank took the name HSBC Bank Egypt in April 2001 following an increase in shareholding by the HSBC Group's from 40% to 94.5% of its issued share capital .
HSBC UK Bank plc is a British multinational banking and financial services organisation based in Birmingham, England. It is a wholly owned subsidiary of the global HSBC banking and financial group, which has been headquartered in London since 1993.
In May 2014, Meezan Bank agreed to acquire Pakistani operations of HSBC Bank Middle East which included 10 local branches and access to 75 multinational corporate clients. [ 12 ] [ 13 ] [ 14 ] A year later, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.
HSBC has made significant contributions to the establishment of solid foundations for Thailand's financial and banking sectors. For example, in 1889 HSBC issued the first banknotes in Thailand. HSBC also issued the first foreign loan to the Thai government for its railroad construction project. HSBC's main branch office in Thailand is situated ...
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).