HSBC Expands Investments to Dominate MENAT Wealth and Capital Markets
CEO Highlights Strategic Growth Plans
Selim Kervanci, HSBC MENAT CEO, emphasizes the Middle East’s importance for future investments. As part of its global strategy, the bank scales back M&A and ECM activities in the US, UK, and Europe. Meanwhile, HSBC prioritizes the Middle East and Asia for growth and expansion. In 2024, bank recorded a $2.5 billion profit, reflecting strong revenue growth.
Wealth Management and Capital Markets Domination
Kervanci prioritizes wealth management and corporate banking expansion. The UAE attracts the highest number of millionaires globally, further boosting bank’s wealth business. Notably, HSBC’s international wealth clients in MENAT grew by 23%, with UAE clients rising 31%. Additionally, bank leads the Middle East ECM and DCM league tables for four consecutive years.
Corporate and Institutional Banking Expansion
HSBC strengthens its institutional banking presence in the region. The bank actively participates in 90% of all Middle East IPOs exceeding $1 billion. Furthermore, bank leads 50% of all equity raised in the region’s capital markets since 2021. With 250 professionals in capital markets, bank remains Saudi Arabia’s largest investment bank.
Major Deals and IPO Leadership
HSBC leads three of the five largest international IPOs in the UAE last year. The bank successfully managed eight of the 13 biggest IPOs in 2024, including Aramco’s secondary offering and OQEP’s ECM transaction. Between 2022 and 2025, HSBC contributed to 65% of IPO deal value in UAE financial markets.
Trade and Global Connectivity Expansion
Leveraging its presence in 90% of global trade corridors, HSBC serves wealth clients more effectively. The bank’s regional trade business grows the fastest, with payment volumes increasing by 20%. Moreover, MENAT’s trade division records the highest global growth for bank. In 2024, 74% of HSBC Middle East’s wholesale revenues came from cross-border banking.
Retail Banking Strategy and Future Focus
HSBC sells its Bahrain retail operations to BBK as part of its strategic shift. Kervanci emphasizes HSBC’s focus on affluent and high-net-worth customers. While increasing retail investments in UK and Hong Kong, the bank shifts MENAT focus to wealth management. To enhance its global wealth business, HSBC prioritizes technology, products, infrastructure, and people.