06:11 (GMT +7) - Wednesday 17/10/2018

Banking & Finance

HSBC lands top honors in Euromoney Trade Finance Survey 2018

Released at: 09:47, 17/01/2018

HSBC lands top honors in Euromoney Trade Finance Survey 2018

Photo from hsbc.com.vn

Survey asked businesses engaged in international trade about banks they use and to rate their trade finance services and products.

by Quang Huy

HSBC has been recognized as the top trade finance bank in Vietnam and as the world’s top global trade finance bank in the 2018 Euromoney Trade Finance Survey.

The annual poll, which is highly regarded across the banking industry, recognizes leadership in trade finance by asking businesses engaged in international trade worldwide to indicate which international banks they currently use for trade finance and how they rate that bank’s various trade finance services and products.

“I am delighted that we have been recognized by our clients in Vietnam as the country’s number one trade finance bank,” said Mr. Winfield Wong, Country Head of Wholesale Banking at HSBC Vietnam.

“Historically, HSBC was established to facilitate the growing trade between countries and continents in the 19th century, and we’re extremely proud that today HSBC is playing its part to ensure the bank remains at the forefront of the global trade industry.”

As with other countries where HSBC operates, HSBC Vietnam offers a full suite of trade solutions ranging from traditional documentation services to highly sophisticated tailor-made solutions to enterprises, both multinational corporations (MNCs) and local corporates; all of which come from a local team of experts that are always willing to go the extra mile for their clients.

The bank’s wide range of trade products accommodates five areas of needs among customers: "Working Capital Optimization", "International Trade Growth", "Trade Risk Management", "Supplier Finance Management", and "Sale Finance Management", from pre-shipment financing that supports raw material purchases in preparation for manufacturing and delivery, to post-shipment financing, including negotiation or factoring services. HSBC has also continued to introduce industry-leading measures to prevent financial crime and sanction risks while facilitating global trade.

“By leveraging our global reach in more than 60 countries and by sharing our in-depth knowledge of markets, we connect buyers and suppliers, helping our clients manage risk and liquidity costs more effectively, and that has always been HSBC’s core strength,” said Mr. Wong.

“Trade is forever evolving and so our role as industry leader is not just to adapt to change but also to anticipate what our clients will need tomorrow so we can continually provide them with the best in class capital solutions,” he added. “That’s why we always put our clients at the heart of everything we do.”

In the annual survey, which this year compiled votes from more than 7,000 businesses engaged in international trade, HSBC was also named as the leading bank for trade finance in the UK, the US, and multiple countries across Latin America and the Middle East as well as Asia. 

HSBC Vietnam was recently named Best Domestic Cash Manager in the Euromoney Cash Management Survey 2017, making it the best transactional banking franchise in the market.

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