A cornerstone in our growth journey
Elahl adds: “HSBC has offered us financial advice, financial planning and insights, and all the necessary tools to help us manage our business efficiently. During the various economic challenges, HSBC’s support ensured the continuity of our business, which is why we consider them a cornerstone in our growth journey.”
The PCP managing director also lauds the bank’s relationship management team for their expertise, professionalism, and dedication to finding solutions to issues caused by market changes.
“Our first year of corporate banking with HSBC coincided with the flotation of the Egyptian pound, which led to the devaluation of the currency by 50%. We also had several projects that were running on a very tight schedule, and our clients couldn’t accommodate any changes or delays,” Elahl narrates.
Their HSBC Relationship Manager at that time worked closely with them to find solutions that allowed them to meet their financial obligations and avoid any cash flow disruptions.
And as the world moves to a digital future, Elahl says HSBC has been ahead of the game with HSBCnet.
“HSBCnet helped us mitigate the impact of COVID-19, since business transactions can be done through the platform. It offers a lot convenience in terms of cash management, trade financing, cheques outsourcing, payroll processing, and other services that we use daily for our business,” he says.
Eye on the future
Outlook for Egypt’s residential property sector has been bright and PCP targets a slice of the market, as it undertakes more projects with mega developers.
Tourism is also expected to see a revival in a post-COVID-19 era, which will also open up further opportunities for PCP.
Elahl says in the next five years, they plan to maintain PCP’s healthy growth rates, ensure that the business continues, and remains sustainable. They are also working towards their ISO 22301 accreditation (security and resilience).
More importantly, he says, they are committed to promoting their employees’ wellbeing, and remaining competitive by adopting the latest technologies.
“Leaving a business legacy starts by thinking about the company’s vision and establishing a culture of values that extend beyond revenues and profits,” he says.