HSBC voted best bank for trade finance

Businesses across Bahrain have voted HSBC Bank Bahrain the best bank for trade finance in the latest Euromoney survey conducted for 2021.

Within the region, HSBC was also voted the number one trade finance bank in the same survey for Qatar, Kuwait and Oman.

“As the world’s leading trade finance bank, HSBC is ideally placed to connect Bahraini businesses to trading partners around the globe. We continue to invest in the digitisation of our products and services to make banking simpler, better and faster for our customers, whilst complimenting the rapidly evolving fintech ecosystem of Bahrain,” said Chris Russell, chief executive for HSBC in Bahrain.

HSBC’s Internet Trade Services executes 100pc of HSBC’s transactions digitally in Bahrain.

In 2021, close to all client transactions were received by digital channels and 75pc of transactions were processed on the same day, which reflects the bank’s commitment to invest in digital solutions and powerful tools to help customers manage their most complex banking needs.

“The impact of Covid-19 has put an even greater focus on digital banking and greatly accelerated digital trade activity. Digital trade is not just about making the physical and financial supply chains more efficient but also about creating opportunities to boost business volumes on the back of those efficiencies,” said Sunil Veetil, head of global trade and receivables finance for HSBC in the Middle East, North Africa and Turkey (MENAT).

HSBC Bahrain is focussed on providing structured trade finance solutions which include supply chain finance and receivables finance solutions for clients which will potentially help enhance customers working capital management and build stronger supplier and buyer relationships.

According to the bank, the main reason it has been voted Euromoney’s top trade finance bank and trade finance customer services provider for three consecutive years in Bahrain is its dedicated team of trade professionals, both onshore and offshore, who understand client specific needs and are able to deliver bespoke trade financing solutions in a timely manner.

Source: https://www.gdnonline.com/Details/1060994