HSBC wins Middle East awards

12 February 2007

Banking giant HSBC has announced that its Middle East arm has won a number of prestigious awards from Global Finance magazine.

HSBC Bank Middle East has been named Best Overall Bank for Cash Management (Middle East), Best Bank for Payments & Collections (Middle East) and Best CLS-Linked Bank Offering (Middle East) by the magazine.

The bank has welcomed the cash management award as the third prize it received in 2006 for its cash management business in the Middle East.

HSBC Bank Middle East regional head of transaction banking, Christopher Lewis, commented: "These awards indicate the level of commitment that HSBC has dedicated to this core business area. As customers become increasingly sophisticated in the Middle East, we expect to continue to deliver more advanced and tailor-made solutions via HSBCnet, the Group's world class e-banking channel."

Selected by Global Finance editors with advice from industry analysts, corporate executives and technology experts, the awards are given to the best providers of treasury and cash-management services, based on a series of factors, including profitability, customer service, innovation and competitive pricing.

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