HSBC retains title as Best Investment Bank, Middle East for 5th year running

HSBC adds Best Investment Bank Qatar, and Best Bank Oman to its winning suite

Muscat, 23 May 2017 

HSBC Bank Oman S.A.O.G. was awarded the Euromoney Award for Excellence 2017 - Best Bank in Oman. The award was announced last week at the Euromoney Middle East Awards for Excellence dinner in Dubai.

The Bank was praised for the stellar performance it has posted over 2016, with a loan growth of 18%, much higher than the 7.5% growth in the Omani banking sector as a whole. In addition, the ability to cut costs by 11.5%, topped with a capital adequacy ratio of 18.7% ensured its supremacy.

“Being recognised by the Euromoney Award for Excellence as the Best Bank in Oman demonstrates our strong position and our ability to originate cross borders solutions and innovative technology that none of our local competitors can provide”. Said Andrew Long, CEO of HSBC Bank Oman.

“This was demonstrated, for example, by HSBC Bank Oman being awarded a strategically important financial advisor mandate, which ultimately led to a significant debt capital programme for the Omani Government in 2016. This demonstrates the position HSBC Bank Oman occupies around the table of some of the most important discussions taking place to help develop and diversify the Omani Economy.” Andrew added.

The local recognition of HSBC Bank Oman was complemented by other HSBC successes, as HSBC retained its title as Best Investment Bank in the Middle East for its 5th consecutive year. HSBC was also awarded Best Investment Bank, Qatar.

Commenting on the wins, Georges Elhedery, Deputy Chairman and CEO of HSBC Bank Middle East Ltd said: “We are honoured to win the Euromoney Awards for Excellence for three major categories this year. This is great recognition by our valued customers of our capabilities to offer them innovative and tailored products and services that meet their regional and global requirements. It is also a testament to the hard work and dedication of our staff, without whom we would not have achieved these great wins.”  

In addition, HSBC Saudi Arabia, an affiliate of HSBC Group, received its 7th award since 2009 as Best Investment Bank, Saudi Arabia.

The Euromoney Awards for Excellence are acknowledged by the industry as the pinnacle of achievement for wholesale and retail banks. These awards are given to those institutions that demonstrate leadership, innovation, and momentum in the markets in which they operate. The judges took into account both the breadth and depth of HSBC's coverage in the Region; not only the Bank’s league table positions but also its involvement with many of the market defining transactions of the year.

-Ends-

1.              HSBC in Oman

HSBC in Oman is represented by HSBC Bank Oman S.A.O.G. which was formed in June 2012 after Oman International Bank S.A.O.G. merged with HSBC Bank Middle East Ltd.’s operations in Oman. HSBC Holdings plc owns 51% of the combined entity through its indirect wholly owned subsidiary HSBC Middle East Holdings BV. Today, HSBC Bank Oman S.A.O.G. is the second largest local Omani bank in terms of branch network and the largest internationally connected financial institution in the Sultanate.

2.             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 9 countries across the region.  HSBC has operations in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Lebanon and Algeria. 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.

This presence, the widest reach of any bank in the region, comprises some 250 offices and around 11,000 employees.

3.              HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 4,000 offices in 70 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,375bn at 31 December 2016, HSBC is one of the world's largest banking and financial services organisations.

For more information, please contact:
Media enquiries to:
Sameh Al Wahaibi             
+968 94947406           
samehm.alwahaibi@hsbc.com       

© Press Release 2017