21 January 2020

HSBC tops trade finance poll in Canada

HSBC has been named the world’s leading bank for trade finance for the third year in a row in Euromoney’s Trade Finance Survey. In addition to naming HSBC the global market leader, clients voted the bank into first place in Canada, 21 other individual markets and four regions: Africa, Asia-Pacific, the Middle East, North America. The Canadian team also earned the top spot in the best service category.

The financial services magazine asked more than 7,000 businesses involved in global commerce to rank and assess their top providers of trade financing survey.  

Andrew Skinner, Head of Global Trade and Receivables Finance, HSBC Bank Canada, said: “This is a vote of confidence from clients. I want to thank them for offering us an opportunity to work alongside them, help them build their businesses internationally, and ultimately improve upon our service offering. These results demonstrate our continued investments and focus on customer experience are working.” 

HSBC has been facilitating international trade since its foundation in 1865. Today, it facilitates approximately USD740 billion of trade worldwide each year. Trade is also key to HSBC’s ambitions for the future. The bank is investing in digital technology to help customers do business across borders quickly and safely.  

In 2019, for example, HSBC completed the first cross-border blockchain transaction involving mainland China. The bank also introduced automated technology in anti-money laundering and sanctions checks as part of its drive to tackle financial crime – a first for the trade finance industry.    

 “As the world’s leading trade bank and the leading international bank in Canada, we are making trade easier and more accessible,” Mr Skinner said. “We help Canadian businesses navigate the complex world of international trade and help them capture opportunities across the globe.”