HSBC has been named best bank in four major categories in Euromoney’s annual marquee awards for the Middle East, picking up more honours than any other bank in this year’s competition.
Named the Middle East’s Best Bank for Transaction Services, the Middle East’s Best Bank for Sustainable Finance, the Best Investment Bank in Oman, and the Best Investment bank in Saudi Arabia, the awards recognise HSBC for excellence in terms of quality of service and performance.
The awards, considered among the most prestigious in the financial services industry, were presented in a ceremony at the Euromoney Middle East Awards for Excellence gala in Dubai.
“Winning these awards is a tremendous achievement and a powerful independent validation of the commitment HSBC has to delivering excellence for our customers as we drive our next period of growth in the region,” said Martin Tricaud, Chief Executive Officer for HSBC in the Middle East, North Africa and Turkey (MENAT).
Commenting on HSBC’s transaction services win, Euromoney commended HSBC for the support it provides its clients in helping them migrate to digital banking.
Transaction banking is a strategic growth priority for HSBC in MENAT, where significant investments have been in digital products and channels to deliver transformational trade finance and cash management services.
In the most recent Euromoney Cash Management and Trade Finance surveys for the Middle East, HSBC was voted as the #1 Regional Cash Manager for Corporates and as the #1 Regional Trade Finance provider.
HSBC was also recognised by Euromoney for being at the forefront of sustainable finance in the Middle East, saying: “When it comes to supporting the transition to a low carbon future across the Middle East, one bank is leading the way – HSBC.”
HSBC has a global commitment to provide $100 billion in sustainable financing by 2025, with MENAT delivering key components of the strategy. Most recently, HSBC acted as Sole Green Structuring Advisor and Joint Global Coordinator on the successful issuance of a $600 million green Sukuk by Majid Al Futtaim Holding LLC, the first benchmark-size green Sukuk by a corporate globally.