A new trade finance survey has found that HBSC is the world's best bank for international trade. The bank was recognized across all industry segments, including manufacturing, construction, resources, logistics, and transport.

Continue reading to learn more.

About The Award

The greatest bank in the world for trade financing has just been given the first-ever Euromoney Award. It may be said that this recognition has never been more crucial than when it was introduced. Following two years of COVID-19 and the current war in Europe, corporate supply chains are severely disrupted. As clients worldwide face significant issues, there has never been a greater need for solutions. The first victor in this category from Euromoney is a bank practically synonymous with worldwide excellence in trade finance. None other than HSBC.

The key to this success is HSBC's ability to create an integrated trade finance offer for its clients across all asset classes and geographies. The bank has built up an unmatched network of global correspondent relationships over many years. There are now 2,500 correspondent banks around the world connected to HSBC Trade Finance via SWIFT (Society for Worldwide Interbank Financial Telecommunication).

The UK-headquartered bank already runs the world's most extensive import/export financing program, HSBC Trade Finance (HTF), which had $83bn of transactions across its global network last year. In addition, the company offers a wide array of other services through its balance sheet, including factoring, letters of credit, guarantees, insurance, and financing facilities.

About HSBC Holdings PLC

The bank has been working on trade finance projects since its inception in 1865 as Hongkong and Shanghai Banking Corporation – but only recently have they begun to be recognized as one of the industry leaders in this area. The culmination of this work came last month with the announcement that HSBC had been named Euromoney's Best Bank For International Trade 2019 at Euromoney's annual awards ceremony held in London on June 11.

The parent organization of the HSBC Group, HSBC Holdings plc, has its main office in London. From offices in 64 nations and territories throughout our six geographical regions—Asia, Europe, North America, the Middle East, Latin America, and North Africa—HSBC services clients globally. One of the world's largest financial and banking organizations, HSBC has holdings of US$2,958 billion as of December 31, 2021.

Conclusion

In short, for its outstanding performance in various categories of international trade, HBSC was named the Best Bank for International Trade in 2017. This is a reason to celebrate, and no doubt recognition like this motivates HBSC to continue excelling at providing excellent services to its customers.

Learn More with EXIMA
Are you interested in learning more about the trade industry? Check out other articles on our Media Page today and avoid common mistakes traders tend to make!

#EXIMA #international trade #globaltradebank #internationaltransactions #internationalmoneytransfers #globalpaymentgateway #bestbank

Interesting...