Euromoney names HSBC as 'the world's best bank'

HSBC has been named 'the world's best bank' by Euromoney, one of the world's leading financial magazines. This prestigious award, which is decided by the magazine's editorial board, was presented during Euromoney's annual awards for excellence.

"Euromoney's Awards for Excellence are a benchmark of the global banking industry, spanning over 80 individual countries," Martin J. Wilkins, chief operating officer at HSBC Bank Malta plc, said. "Now in their 13th year, the awards recognise the finest banks across the world in a range of disciplines, including debt, mergers and acquisitions, equity and cash management. Everyone at HSBC is clearly delighted that the bank has been named as the best in the world."

Euromoney also presented HSBC with a number of other awards. These were for: Best at treasury and risk management in Asia; Best bank in Hong Kong; Best debt house in Hong Kong; Best debt house in the Philippines; Best bank in the Middle East and North Africa; Best debt house in the Middle East and North Africa; Best at risk management in the Middle East and North Africa; Best debt house in Qatar; Best debt house in the UAE; Best mergers and acquisitions house in Poland.

Euromoney's editors chose HSBC as the world's best bank based on the group's financial performance and its relationship-based approach to banking. The magazine said: "It [HSBC] wins Euromoney's best bank award this year after 12 months in which its senior management has shown substantial progress with two bold risks: the integration of US consumer finance group household, which it acquired in 2003 for US$14.8 billion, and the build-up of its corporate, investment banking and markets business, launched last year."