HSBC Best Bank for Sustainable Finance in the Middle East

Winning more accolades than any competitor in the region, HSBC was named the Best Investment Bank in Saudi Arabia, in Kuwait, and in Oman, recognised as the Best Bank for Islamic Finance in Saudi Arabia, and won new awards in Egypt and Oman as the Best Bank for Environmental, Social and Governance (ESG).

Since the award’s 2018 inauguration, HSBC is the only bank to have held the title of the Middle East’s Best Bank for Sustainable Finance . Outside of the Middle East, HSBC was named Asia’s Best Bank for Sustainable Finance for the fifth year in a row, and was recognised as the World’s Best Bank for Trade Finance.

Stephen Moss, HSBC Regional Chief Executive for the Middle East, North Africa and Turkey (MENAT) said: “Our aspiration to be the global leader in supporting our clients with their cross-border banking needs, together with helping lead the transition to a global net zero economy are key pillars of HSBC’s strategy. Being recognised as the Middle East’s Best Investment Bank and Best Bank for Sustainable Finance is a clear reflection that we are making good progress on our stated ambition to be the preferred international banking partner for our clients.”

Gareth Thomas, Regional Head of Global Banking for HSBC in MENAT, said: “Having world class investment banking and capital markets capabilities in the Middle East is how we helped clients in the region raise more than US$19 billion from investors worldwide in 2021, and is contributing substantially to HSBC being on top of Bloomberg’s IPO league tables in Europe, Middle East and Africa (EMEA) in the first half of 2022.”

Sabrin Rahman, Head of Corporate Sustainability for HSBC in EMEA, said: “Being the Middle East’s Best Bank for Sustainable Finance for four years running demonstrates our commitment and capabilities when supporting our clients with the transition to net zero.”

HSBC globally aims to provide up to US$1 trillion of financing and investment by 2030 to support the transition to a net zero global economy. The bank also aims to be net zero in its own operations and supply chain by 2030.

Demonstrating leadership in sustainable finance and leveraging its global network, HSBC is ‘digitising at scale’ by increasing mobile and online banking capabilities and using new technologies like blockchain and machine learning to make global trade and payments faster and more secure.

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$68.9bn as at 31 December 2020.