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February 06, 2016 11:28 PM ET

Banks

Company Overview of HSBC Bank Middle East Limited

Company Overview

HSBC Bank Middle East Limited, through its subsidiaries, provides a range of banking and related financial services in the Middle East and North Africa. The company’s Retail Banking and Wealth Management segment provides various personal banking products, including current and savings accounts, mortgages and personal loans, credit cards, debit cards, and local and international payment services; wealth management services comprise insurance and investment products, and financial planning services; and consumer finance to individual customers. Its Commercial Banking segment offers receivables financing services, payments and cash management, international trade finance, treasury and capital m...

HSBC House

Esplanade

St. Helier,  JE4 8UB

Channel Islands

Founded in 1889

5,632 Employees

Phone:

44 1534 606 512

Fax:

44 1534 606 149

Key Executives for HSBC Bank Middle East Limited

Deputy Chairman and Chief Executive Officer
Age: 48
Chief Executive Officer of Hsbc Bank Brasil S A - Banco Múltiplo of Hsbc Bank Canada of Hsbc Holdings Plc
Age: 60
Non-Executive Director and Chief Executive Officer of HSBC Qatar
Global Chief Executive Officer of Hsbc Amanah
Age: 53
Non-Executive Director and Chief Executive Officer of United Arab Emirates
Compensation as of Fiscal Year 2015.

HSBC Bank Middle East Limited Key Developments

HSBC Middle East Cuts 150 Jobs from its UAE Banking Operations

HSBC Middle East said that it has cut more than 150 jobs from its UAE banking operations as part of its global cost cutting efforts.

HSBC Middle East Limited to Move Place of Incorporation to Dubai International Financial Centre

HSBC Middle East Limited announced in official filings to London Stock Exchange and Irish Stock Exchange on September 17, 2015, it intends to transfer its place of incorporation and head office to the Dubai International Financial Centre. Following the relocation, HBME will be lead regulated by the Dubai Financial Services Authority (DFSA). This relocation is expected to complete during 2016. The bank said the transfer of incorporation to the DIFC will have no impact on any of HBME's local regulatory relationships in the Mena region, nor on its business in the countries in which it operates.

HSBC Bank Middle East Limited Reports Unaudited Consolidated Earnings Results for the Half Year Ended June 30, 2015

HSBC Bank Middle East Limited reported unaudited consolidated earnings results for the half year ended June 30, 2015. For the quarter, the company reported interest income of USD 611.64 million compared to USD 643.87 million a year ago. Operating profit was USD 426.67 million compared to USD 564.85 million a year ago. Profit before tax was USD 430.13 million compared to USD 566.11 million a year ago. Profit attributable to shareholders of the parent company was USD 355.54 million compared to USD 467.37 million a year ago. Net cash used in operating activities was USD 879.34 million compared to net cash generated from operating activities of USD 597.31 million a year ago. Purchase of property, plant and equipment was USD 14.35 million compared to USD 5.19 million a year ago. Purchase of intangible assets was USD 1.36 million compared to USD 1.61 million a year ago.

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