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HSBC wins further cash management awards

Awards from both EMEA Finance Magazine and Global Finance Magazine
HSBC today announced that it has received more awards for its MENA Cash Management business with EMEA Finance magazine awarding HSBC Best Cash Management Services in the Middle East in its Treasury Services Awards 2011 and Global Finance Magazine naming HSBC Best Online Cash Management, Best Trade Finance Services, and Best Information Security Initiatives in its annual World's Best Internet Banks in Middle East / Africa awards.

These awards follow HSBC being named Best at Cash Management in Middle East at the Annual Euromoney Awards for Excellence 2011, held in Dubai.

Natasha Patel, Regional Head, Global Payments & Cash Management MENA said: "These awards are further recognition of HSBC 's leading Payments and Cash Management (PCM) business. PCM is a core part of business activity and, our commitment remains the same - to provide the best working capital solutions to our clients."

"Services such as HSBCnet help our corporate and institutional customers better manage their working capital. Not only does it provide an easily customized real time overview of payments, it also helps drive down costs by eliminating manual processes, helping businesses increase their productivity and better utilize their limited resources. With real-time global account access, HSBCnet gives control and flexibility to all corporates at every level of their organization."

HSBCnet is HSBC 's online 'one stop shop' for payments and Cash Management, Trade, FX and securities, offering clients real time account information wherever they are in the world. Now used by over 18,000 corporate customers in the region and by over 1 million e-banking corporate customers across the world, HSBCnet helps clients manage their payments and cash management in a cost effective, flexible 'at a glance' way.

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HSBC in the MENA Region
HSBC is the largest and most widely represented international banking organisation in the Middle East and North Africa (MENA), with operations in 14 countries. HSBC has branches and offices in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 60% shareholder of HSBC Saudi Arabia Limited for wholesale and investment banking in the Kingdom. In Iraq, HSBC holds a majority shareholding in Dar Es Salaam Investment Bank. HSBC also maintains a representative office in Libya.

This presence, the widest coverage of any bank in the region, comprises some 285 branches and offices, and around 12,000 people. In the full year 2010, HSBC made a profit before tax of $892 million in the MENA region.

Charles Clarke
Senior Manager, Corporate Communications
Corporate, Global Banking and Markets and HSBC Amanah
HSBC Bank Middle East Limited
Tel: 971 4423 5640
Email: charleswclarke@hsbc.com

© Press Release 2011