HSBC is seeking to back the UAE’s most dynamic and internationally-oriented businesses to go global with the launch of a dedicated Business Banking service.
“Businesses with the most entrepreneurial mind-sets have set their sights on expanding globally,” said Abdulfattah Sharaf, Group General Manager, Chief Executive Officer UAE and Head of International, HSBC Bank Middle East Limited.
“HSBC supports the aspirations of companies with proven business models and ambitious expansion plans. We will help the best of them achieve their goals by connecting them to our global network and our market expertise with this new, dedicated service,” Abdulfattah added.
HSBC Business Banking is for companies who have proven models that generate USD 15 million to USD 50 million in annual turnover. HSBC can provide specific expertise for businesses with cross border trading requirements, or which aspire to grow internationally.
These firms, which include the upper end of the small and medium-sized enterprise (SME) segment that contributes about 50% of the UAE’s GDP, are key to the Federal Government’s economic growth plans. SMEs are forecast to contribute 60% of UAE GDP by 2021 as the country pursues its economic diversification and transformation agenda.
Dan Howlett, Regional Head of Commercial Banking, HSBC Middle East, North Africa and Turkey said: “We have re-designed our business to focus on the key growth areas of the economy which are aligned to Government priorities. Our new Business Banking service is a mark of our confidence in the long-term strategic potential of the region’s ambitious economic transformation plans and the businesses helping shape the future.”
According to HSBC’s latest ‘Navigator: Made for the Future’ report, the UAE is one of the most optimistic markets for growth globally, with 82% of the country’s businesses anticipating growth over the next two years as they invest to make the most of the potential of next year’s Expo 2020 Dubai as a showcase for UAE entrepreneurs.
HSBC Business Banking will be available to existing and new customers through three, clearly defined solutions: Business Banking Standard; Business Banking Elevate; and Business Banking Vantage.
All three offer dedicated Relationship Management service and transparent pricing – tierd by solution. Businesses will benefit from HSBC’s world leading digital channels to manage corporate accounts globally, as well as facilitate international trade and payment solutions. Other key features include thought-leadership content, networking events and the HSBC Trade Academy.
Businesses which opt-in to the Elevate and Vantage solutions will also have access to HSBC Premier personal banking status.
To learn more, visit https://www.business.hsbc.ae/en-gb/business-banking
© Press Release 2019