HSBC tops trade finance poll

MANILA, Philippines — HSBC has been named the world’s leading bank for trade finance for the third year in a row in Euromoney’s Trade Finance Survey.

HSBC Philippines head of wholesale banking Michael Brennan said supporting international trade has been at the heart of the bank’s business model since the bank was founded in 1865.

“This is a vote of confidence from clients that the work we are doing with them on our strategy, investment and execution is really delivering,” Brennan said.

HSBC facilitates about $740 billion of trade worldwide each year.  It continues to focus on complex structured trade finance, providing both domestic and cross-border supply chain solutions to its customers in the Philippines. 

In 2020, the bank will further expand its capabilities in structured trade by launching an automated platform for supply chain and receivables finance.