HSBC tops Euromoney poll for Trade Finance in Bahrain

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

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 Officer for HSBC in Bahrain.

HSBC’s Internet Trade Services executes 100% of HSBC’s transactions digitally in Bahrain. In 2021, close to all client transactions were received by digital channels and 75% of transactions were processed on the same day.

“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).