British Arab Commercial Bank

The British Arab Commercial Bank Limited (BACB), based in London, England, is a wholesale banking institution providing trade and project finance for Arab markets. The bank’s largest single shareholder at 49% is HSBC Bank Middle East, a member of the HSBC Group. BACB’s other shareholders are Libyan Foreign Bank (26%), Central Bank of Egypt (8%), Bank Al-Maghrib (Morocco; 8%), and Banque Extérieure d’Algérie (8%). The bank has representative offices in Algiers and Tripoli (Libya). The bank was established on 1972 as UBAF Limited, with Midland Bank as the largest single shareholder. The bank’s name was changed to UBAF Bank Limited on 4 January 1977. It became an affiliate of the HSBC Group when HSBC acquired Midland Bank in 1992. The...