RIYADH, 28 February 2007 — HSBC Saudi Arabia Ltd., 40 percent of which is owned by Saudi British Bank (SABB), has been ranked the No. 1 and “Top Rated” agent bank in Saudi Arabia in Global Custodian magazine’s 2006 Agent Banks in the Emerging Markets Survey. HSBC has also been named the “Top Rated” agent bank in the Middle East and North Africa regions in the same survey.
Timothy Gray, CEO, HSBC Saudi Arabia Ltd., said: “We are extremely proud that our clients have rated us the number 1 agent bank in Saudi Arabia. We will continue to invest in the business and work closely with the local regulators and exchanges to contribute to the further development of the Saudi market.”