(MENAFN – The Peninsula) The Peninsula
Doha: HSBC has scooped multiple honours in Asiamoney’s annual awards for banks with the best capabilities to connect customers in Asia and the Middle East, including the marquee title of Best International Bank in the Middle East.
HSBC was named the Best International Bank in the Middle East and the Best Transaction Bank in the Middle East at the Asiamoney Middle East Best Bank Awards 2020.
Concurrently, HSBC was named the Best International Bank in the Region for BRI (Middle East & Africa) and the Best Bank for BRI-related Financing in the Region (Middle East & Africa) at the Asiamoney New Silk Road Finance Awards 2020.
Martin Tricaud, CEO for HSBC in the Middle East, North Africa and Turkey (MENAT), said: ‘To be named the Best International Bank and the Best Transaction Bank in the Middle East is fantastic news for our customers and staff. HSBC has a long and proud history in the Middle East and it is a region prioritised for growth by HSBC Group.
‘And being recognised as the Best International Bank in the Middle East for the Belt and Road and the Best Bank for BRIrelated Financing in the Middle East reflects HSBC’s unrivalled ability to connect customers to opportunities along the international route of China’s Belt and Road Initiative. Asiamoney cited China expertise as an area of outstanding competitive strength for HSBC in the Middle East:
‘The connectivity it provides for Chinese corporate and financial institutions investing in the Middle East along the Belt and Road is second to none. Everywhere you look, it is a leader, both in action and in theory.
Over the last year, HSBC has been at the forefront of landmark financing activity in the Middle East. It has helped attract international investors into the region’s capital markets and introduced issuers from the Middle East to new pools of liquidity, both in Asia and elsewhere in the world. Key deals that HSBC completed during the period under review by the Asiamoney judges included acting as the sole financial adviser to State Grid International Development Limited on its acquisition of a 49 percent equity stake in Oman Electricity Transmission Company.
HSBC also extended a $558m package of guarantees, cash management, forex solutions, and trade, supply chain and receivables finance to a joint venture between China Railway Construction Corporation (CRCC) and some railway projects in the region. HSBC has nurtured the development of the region’s sustainable finance market by not only helping execute large and complex deals but also by driving the innovation of new products such as sustainability linked loans.
Meanwhile, in transaction services, HSBC has pioneered the use of new technologies such as blockchain to transform the future of international trade and invested in digital tools to make payments faster and more secure.
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