HSBC gets trade bank award

MANILA, Philippines - The Hongkong and Shanghai Banking Corp. (HSBC) had received the Best Trade Finance Bank in Asia award by FinanceAsia for the sixth consecutive year.

In its Awards for Achievement 2009, FinanceAsia cited HSBC’s extensive network, comprehensive product range, technological enhancements and thought leadership as key factors that clinched the prize.

HSBC global head of Trade and Supply Chain Lawrence Webb said that the global banking institution kept its focus on supporting customers’ needs through adverse conditions, and that it will continue to remain committed to their success as markets recover.

“This recognition is testament to the success of that strategy and the strength of HSBC’s trade services franchise as well as our commitment to enhancing our product and delivery capabilities even at a time of economic uncertainty,” Webb added.

Webb added that with HSBC’s unmatched international presence, robust on-the-ground expertise and evolving range of products and services, trade and supply chain franchise, is uniquely positioned to serve customers in Asia and around the globe.

HSBC processed trade transactions for 57,000 clients in Asia who are serviced by over 2,100 trade and supply chain specialists across the region. In July 2009, HSBC was the first foreign bank to settle cross-border trade in renminbi, initially in mainland China and Hong Kong, and within the next few months, across seven markets in Southeast Asia.

HSBC Trade and Supply Chain is one of the largest trade services organizations in the world. Its expertise combines over 140 years of extensive experience in international trade with a unique blend of local knowledge, supported by advanced technology and extensive network of dedicated trade services offices in over 60 countries and territories worldwide.

It launched recently the global Trade Confidence Index in June 2009, capturing the views from more than 3,500 importers, exporters and traders across 12 markets in Asia, Europe, the Middle East and the Americas, providing a unique barometer of trade activity.

“HSBC maintained its leadership as the best trade finance bank in Asia by continuing to provide one of the few truly regional offerings. HSBC stands out as a topnotch trade finance bank that others emulate,” FinanceAsia said.