HSBC voted Bahrain’s best bank for trade finance in Euromoney poll

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

Businesses in Bahrain have voted HSBC the best bank for trade finance in the country as well as across the Middle East in Euromoney’s Trade Finance Survey 2023.

HSBC was recognised in all eight award categories in the region, including the highly coveted Market Leader and Best Service awards, receiving the most votes from thousands of businesses.

HSBC also ranked first globally, with 48 first-place rankings across the Middle East, Asia-Pacific, North America, and Latin America, scoring more than twice as many points as any other bank.

Patricia Gomes, Regional Head of Commercial Banking at HSBC Middle East, North Africa and Turkey (MENAT), stated that this recognition was a reflection of the bank's commitment to providing excellent service to its customers and its investment in scaling digital trade finance.

She also highlighted HSBC's co-creation of the blockchain-based trade finance platform Contour, which has reduced transaction lead times from 5-10 days to 24 hours, and the Digital Receivables Finance portal, which has reduced waiting times for working capital from 60 days to less than 48 hours.

Chris Russell, CEO of HSBC Bahrain, expressed gratitude to the bank's customers for their continued support and for receiving the award for the fifth time this year in Bahrain.