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Muscat - HSBC Bank Oman S.A.O.G. has been voted as the 'Best Domestic Cash Management Bank' in the Sultanate for the fourth consecutive year by the globally acclaimed Euromoney Cash Management Survey 2015. It was praised for the effective coordination of its Payments and Cash Management services in both corporate and financial institutions categories, with survey responses highlighting the Bank's ability to establish strong client relationships through continued delivery of efficient and high quality solutions.
The local recognition of HSBC Bank Oman was complemented by other HSBC successes in Asia, Middle East and Australasia. In total, HSBC Group was named as 'Best Domestic Cash Management Bank' in 29 countries worldwide. Euromoney's 15th Annual Cash Management Survey provides cash managers, treasurers and financial officers with the opportunity to comment on the standard of the international cash management services they receive and rate the financial institutions they bank with.
Iain Morrison, General Manager and Head of Commercial Banking at HSBC Bank Oman, said, "Being recognised for four years in a row by our clients demonstrates our clear ability to support their trading requirements locally and internationally. We have an award-winning cash management proposition, used by over 225,000 clients globally, comprising 773,000 corporate users across five regions. By applying this international expertise locally, our clients in Oman benefit from globally tried and tested platforms that can best meet their cash management needs."
HSBC Bank Oman provides access to a wide range of business products and services for Small & Medium Enterprises (SMEs) through to large Corporates. Corporate financing solutions, including Trade, Treasury, Global Payments and Cash Management, Corporate Credit Cards, Custody, Clearing, and Time Deposits are available to more than 10,000 corporate clients across the county. HSBC Bank Oman is part of a global network of 6,100 offices in over 72 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa.
HSBC in Oman
HSBC is the largest international bank operating in the Middle East, and Oman is an important market in the region for the bank. Oman has one of the most stable political, social and economic environments in the region, with a growing economy supported by a young population and significant investments in infrastructure.
Oman is also a key access hub to the fast-growing trade corridors connecting the MENA region with Asia - a major focus for growth for HSBC. Its economy is forecast to grow at a compound annual growth rate of 4% forecast from 2011 to 2016.
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 a presence in 11 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Lebanon, Algeria and the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. HSBC also maintains a representative office in Libya.
This presence, the widest reach of any bank in the region, comprises some 267 offices and around 12,000 employees. In the year ending 31st December 2014, HSBC in the MENA region made a profit before tax of US$ 1.8bn.
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,100 offices in 72 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,549bn at
30 September 2015, HSBC is one of the world's largest banking and financial services organisations.
For more information, please contact:
Shaza Taher
Associate Media Relations Director
TRACCS Oman
Telephone: +968 24 649-099
Email: shaza.taher@traccs.net
© Press Release 2015
