HSBC increases stake in Saudi British Bank

Pedro Gonçalves
clock • 1 min read

HSBC, through its subsidiary HSBC Holdings B.V., has purchased shares in Saudi British Bank which will increase its shareholding in the Saudi lender to 31% from 29.2%. "The transaction further emphasises our long term strategic commitment to both SABB and the Kingdom of Saudi Arabia," HSBC said in a statement. HSBC traces its origins in Saudi Arabia back almost 70 years, during which time it has been an active partner supporting the Kingdom's economic growth and social development...

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