HSBC Bank Egypt was established in 1982 as the Hong Kong Egyptian Bank. The bank was rebranded HSBC Bank Egypt in April 2001 after an increase in the HSBC Group’s shareholding from 40 per cent to more than 90 per cent of its issued share capital.
It is one of the largest multinational banks in Egypt, providing a comprehensive range of banking and financial services. It works with leading charities to support community projects, with a focus on education and the environment.
HSBC’s presence in the Middle East dates back to 1889 when the bank was known as The Imperial Bank of Persia. The bank changed its name to The Imperial Bank of Iran in 1935; The British Bank of Iran and the Middle East in 1949 and subsequently The British Bank of the Middle East in 1952 when operations in Iran were wound up. The HongKong and Shanghai Banking Corporation Limited acquired The British Bank of the Middle East in 1959.
The bank has an assets portfolio exceeding 116 billion pounds, a loan portfolio of 36.9 billion pounds, and deposits amounting to 91.9 billion pounds, according to the financial statement issued by the bank at the end of March 2021.
