8 minute read
HSBC
from Show Case Malta 2020
by Mediahut Ltd
Helping businesses grow safely and sustainably
Growth, Customers and Employees are the three main pillars on which HSBC Bank Malta is building its Safe Growth Strategy. Speaking to Showcase Dubai, JOYCE GRECH, Head of Commercial Banking, HSBC Bank Malta spoke of the plans which the Bank is putting in motion to enhance growth.
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“Our Safe Growth strategy, is our transformative roadmap for the next leg of our journey, as HSBC continues to grow our business safely here in Malta. It encompasses 3 pillars: Growth, Our Customers and Our People,” said Ms Grech as she described the way in which HSBC Malta was planning to grow. The bank, she said, has a strong appetite to grow but no appetite for weak risk management. She added that the bank will continue sustaining a strong financial crime compliance culture throughout all its areas of operation.
Ms Grech is a career banker and has been in her current position for the past two years. Her experience is as wide as it is deep and she is now leading a team of professional Relationship Managers. These deliver a wide range of tailored solutions and services to the Bank’s diverse business customers, supporting them locally and internationally. The relationship managers, in turn rely on the support of a team of product specialists in Trade and Payments and Cash Management. “I have had a varied career in banking having worked in the bank’s Trade Finance and Commercial Banking teams, the Retail area where I was Head of Customer Value Management, and most recently Risk where I was Chief Risk Officer,” explained Ms Grech with a smile.
RESTRUCTURING APPRECIATED BY CLIENTS
Restructuring was the first task which Ms Grech undertook to ensure that the commercial banking division delivered the right solution to its customers. “This was carried out largely in Q2 20. In spite of these unprecedented times, with most of our colleagues working from home, we continued providing a seamless service to customers despite the fact that most of our people were working from home. I was very encouraged with the results of a customer survey we carried out at the end of last summer which showed that customers were satisfied with our level of service and support throughout the pandemic,” said Ms Grech, with justified pride in her team’s work.
HSBC Group has just launched an updated purpose statement – Opening up a World of Opportunity. Ms Grech pointed out that HSBC is in Malta, and in over 64 countries across the globe, to use each country’s unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunities for the customers, leveraging the bank’s unique strengths including its international footprint, Trade and Payments and cash management capabilities.
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THRIVING ON CHALLENGES
“The pandemic has also shown that we can operate more effectively through better use of digital tools - we have focused on decreasing the use of manual payments such as cheques and supporting customers to migrate to more efficient and secure payment methods. We continued investing in HSBCnet, the world class internet banking portal which facilitates efficient international payments and working capital management. We introduced LiveChat and HSBCnet Get Rate Cross Currency and implemented new, more user friendly login pages,” Ms Grech enumerated as she ticked off the achievements of the bank in very difficult times.
Meanwhile, the HSBC International Business Fund (HIBF) which ties in neatly with the Safe Growth Strategy has made available €250 million. The HSBC International Business Fund, explained Ms Grech, is perfectly aligned with the updated purpose statement. With offices in 64 countries and territories, HSBC is in a unique position to offer support to local businesses as they change their business model post-pandemic. “This Fund enables businesses to exploit international opportunities. So far, despite the pandemic, half the €250 million Fund has been taken up. We have seen some real success stories and are highly motivated when we see how local companies are achieving success internationally, thanks in part to our support” continued Ms Grech.
KEY ROLE IN TRADE FINANCE
HSBC plays a key role in international trade finance. Ms Grech explained that the bank’s strengths in providing global trade solutions allow clients to trade with confidence and finance their international business. “We also have the capability to support companies in analysing the trade cycle, understanding working capital requirements and strengthening customer and supplier networks around the world,” explained Ms Grech. She added that the bank was very excited earlier this year when HSBC Malta was named Market Leader for Trade Finance in Malta in Euromoney’s 2021 Trade Finance Survey. “This survey is based on customer feedback which makes it even more relevant for us. The same survey, of more than 11,000 businesses globally, also named HSBC as the world’s best trade finance service provider for a record fourth consecutive year,” recalled Ms Grech.
But, with so many banks to choose from, why should a client choose HSBC Malta, asked Showcase Dubai. Ms Grech did not even blink, but she did smile and started ticking off the reasons. HSBC is a leading international bank which has leverage on global network for banking solutions. HSBC Malta has a professional, highly trained and experienced workforce, as well as access to Group resources particularly for any complex transactions/customer requirements. HSBC Malta has a fully-fledged service offering. The bank is a market leader on a digital commercial banking platform – HSBCnet. Finally, the Bank can handle both ends of transactions. Besides these benefits, HSBC Malta works very closely with the Malta Chamber and also Trade Malta. “We have strong ties with these organisations and regularly work on joint programmes to bring the best to our customers,” observed Ms Grech.
THE DUBAI LINK
HSBC UAE is the Regional Headquarters of HSBC for the Middle East, North African and Turkey region (MENAT). Apart from its long rooted connections in the UAE and Dubai itself, HSBC UAE, is also a significant enabler of trade within the whole Middle East, North Africa and Turkey region. “Our colleagues in the UAE, provide ‘knowledge on the ground’, HSBC’s full Corporate Banking products and solutions suite and access to their comprehensive networks, with offices in Egypt, Turkey, Qatar, Oman, Kuwait, Bahrain and Algeria as well as access to Saudi Arabia through our Associate bank SABB, for the benefit of Maltese importers and exporters alike, whether they are trading in goods or services, or both,” noted Ms Grech. Strengthening the ‘corridors of trade’ with this country is beneficial for Malta, observed Ms Grech. Dubai with its various free zones is also a significant stock holding centre for imports/exports from the Far East to MENAT itself, and also to Europe. Many of the bank’s clients obtain delivery of goods, and arrange logistics, from Dubai for goods purchased in the Far East.
To some degree or other, facilitating, thereby increasing trade, will of course always benefit Malta’s economy. However, the opportunity lies when considering Dubai’s leading position in the MENAT region. According to Ms Grech, this combined with Malta’s geography, as well as its culture and infrastructure, ideally positions the bank, to act as a bridge between North Africa and Europe. “We can serve as a hub for Dubai business transitioning between MENAT and Europe, not just for physical trade in goods, but for services, such as financial services, corporate services etc. With a strong presence in both countries, we can help our clients to realise their ambitions and thrive,” expounded Ms Grech.
“BUSINESS PLAN FOR THE PLANET”
Turning to the recently launched 'Business Plan for the Planet' Ms Grech said, “HSBC’s ambition is to establish itself as the global leader in Environmental, Social and Governance (ESG) and has committed between USD 750 billion and USD 1 trillion to drive sustainable transitions for businesses all over the world. We believe that the challenges of climate change and sustainability can be met if businesses are part of the solution. Locally, we intend to play our part and support our customers in this journey, creating awareness about the importance of adopting a sustainable, low carbon business model.” She concluded by describing herself as ‘very encouraged’ that most customers are interested to find out how they can be part of the plan and how HSBC can help them get there through its sustainable finance solutions. n
DUBAI EXPO INTERVIEW
UAE well positioned for post COVID economic recovery
UAE’s recent regulatory changes set the tone for economic recovery and creates a positive environment for businesses to grow and jumpstarting its economic recovery after the pandemic.
“What we have seen in the UAE is considerable progress in diversification of the economy through a number of initiatives, and regulatory changes to develop international business in a way that is easy across the whole Arab region,” says Dan Howlett, Head of Commercial Banking at HSBC MENAT.
Significant regulatory changes
An amendment to the Commercial Companies Law eliminates the requirement for firms outside of free zones to be majority owned by UAE nationals or their companies, thereby allowing for 100 percent foreign shareholding.
This gives tremendous opportunities to foreign and local investors as it encourages foreign companies to come in and set up branches and be able to operate pretty much normally onshore.
With its further shift away from commodities dependence towards services and innovation, the UAE is likely to offer an increasing number of opportunities for investors in healthcare, education, agri-tech and renewables.
Growth in partnership with HSBC
The country’s technological agility, ability to adapt quickly and sustainable drive are in line with HSBC’s strategy to deliver the latest innovative financial services to its clients based on its outstanding digital capabilities and global network.
UAE is a region that will continue to grow and HSBC is dedicated to opening up a world of opportunities for our customers. We are excited about the opportunities the UAE economic environment brings to businesses and how we can help businesses take their next step.
Expo stimulus
The upcoming Expo 2020 Dubai, the Arab world’s largest global event, will be key to the repositioning of the economy, making it more visible on the global stage. We encourage Maltese businesses to visit HSBC at the UK Pavilion at the Dubai Expo and see how HSBC can help them take their business forward.
