30 January 2018 12:45 am
HSBC has emerged as 2018’s big winner of the Euromoney Trade Finance Survey 2018.
The magazine based its findings on a poll of more than 7,000 businesses engaged in international trade, asking them to rank the top providers of trade finance. It is the first time that the bank has taken first place in the annual poll.
Mark Prothero, CEO of HSBC Sri Lanka and Maldives commented, “We are delighted that HSBC has been recognized for the first time by our clients as the world’s number one trade finance bank. HSBC manages around 13 percent of worldwide trade volumes and processes US$1million of trade turnover every minute. Our geographic footprint provides us with access to 90 percent of all global trade flows. These accolades are fantastic recognition of our distinctive strength in the market when it comes to combining our international network, our leadership in trade finance and our expertise in developing tailored financial solutions for international businesses.”
“Trade is changing fast and as the industry leader we have to be agile and dynamic in providing first-class working capital solutions and client service. We must grasp this opportunity to extend our reach and leadership in 2018, and continue to put clients at the heart of everything we do,” he commented further.
In addition to recognizing HSBC as the world’s top trade bank, the survey also named it to be the leading trade bank in Latin America and the Middle East, as well as in 11 countries including the US, UK, UAE, India, Singapore, and Hong Kong.