HSBC Bank Egypt Wins”Bank of the Year” Award in 2012
HSBC Bank Egypt (“HSBC”) is proud to announce that it has won the prestigious “Bank of the Year – Egypt” Award in 2012 by The Banker Magazine. The Banker Magazine’s awards, which recognise the top global banks based on their performance throughout the year, have always been contested by the world’s leading financial institutions as they are considered the industry’s standard for banking excellence.
During the past two years (2010 & 2011), HSBC successfully managed to raise its Tier 1 Capital by 15.4% and its Total Deposits by 15.6%, despite the economic challenges the country has gone through, in addition to expanding its market share for both Imports and Exports on the back of its global footprint. These strong results reflect the Leading International Business strategy of HSBC both globally and in the Egyptian market, as well as the Bank’s commitment towards its customers in Egypt and the Bank’s ongoing support to their growth.
“It gives us great pride to be recognised as the “Bank of the Year” in Egypt by one of the world’s leading financial publications. This recognition is a testament to the strong management, effective teamwork and prudent risk approach and strategy of HSBC in Egypt. This helps to position Egypt as one of the top 20 priority markets for the HSBC Group which continues to seek opportunities to grow and expand its business in the Egyptian market”, said Andrew Long, Deputy Chairman and CEO of HSBC Bank Egypt.
In addition to being the “Bank of the Year– Egypt” in 2012, HSBC Bank Egypt has received several awards in 2012, including Best Foreign Investment Bank in Egypt for the 4th Consecutive Year from EMEA Finance and Best Trade Finance Bank in the Middle East & North Africa for the 6th Consecutive Year from Global Trade Review (GTR). The Bank was also awarded Best Cash Management Provider in Egypt from Euromoney Magazine.
“These awards are the result of our customers and stakeholders support over the past years, and the dedication of HSBC’s employees who helped us grow our business successfully in Egypt throughout the past 30 years of ourpressnce in Egypt.”, added Long.
