HSBC Bank Middle East Limited has been named ‘Best Trade Finance Bank in Middle East’ by Global Finance magazine. HSBC was also named the Best Trade Finance Bank in Asia, Hong Kong and the United Kingdom.
This is the third award that HSBC has received in 2006 for its trade finance business in the Middle East. Earlier in July HBSC had been voted ‘Best Trade Bank in Middle East and North Africa’ in a customer poll conducted by Trade Finance magazine and in November the bank had won 'Best Trade Finance Bank' award at the First Annual Middle East Logistics Awards function in Dubai.
“We are delighted to have won three prestigious awards this year for our trade business in Middle East,” said Kersi Patel, Regional Manager for Trade Services at the HSBC Bank Middle East Limited. He added “these awards – one of which came from a customer poll, one from the logistic companies in the region and last one from industry analysts and experts, are in recognition of our success in providing superior trade solutions to all categories of customers in the Middle East markets, whether they are large international trading names, regional corporates or local traders.”
Christopher Lewis Regional Head, Transaction Banking, HSBC Bank Middle East Limited said : “These awards indicate the level of commitment that HSBC has dedicated to this core business area. With ours roots firmly in trade finance, we are one of the region’s first banks and supporters of local and international trade, which is the backbone of any economy.”
HSBC Named the Best Trade Bank in the Middle East/2
In their annual survey of the Best Trade Finance Banks and Providers, Global Finance editors, with input from industry analysts, corporate executives and technology experts,chose the leading trade finance banks in 57 countries or regions, as well as the best online trade finance provider.
Criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.
1. HSBC Bank Middle East LimitedHSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 34 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a representative office in Tehran, Iran.
2. HSBC Holdings plcHSBC Bank Middle East Limited has been a principal member of the HSBC Group since 1959. Serving over 125 million customers worldwide, the HSBC Group has some 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,738 billion at 30 June 2006, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.