FINANCIAL NEWS

HSBC aims to expand in Saudi Arabia

10 Aug 2017

(MENAFN) HSBC is aiming to add staff to its Saudi Arabian ops as the kingdom embarks on one of the largest economic transformations attempted by any nation.

Meanwhile, chances for investment banks have grown due to Vision 2030, the reform program, launched by Crown Prince Mohammed bin Salman to spread the economy.

In addition, Riyadh has ambitious privatization plans, involving raising USD100bn amid the listing of 5 percent of state oil firm Saudi Aramco at home.

Moreover, on top of that it is opening the Saudi Stock market up, something HSBC predicts could attract more than USD20bn in foreign capital.

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