Monday, 28 March 2016, Global Connections

HSBC the top international trade bank in Australia

Market research reaffirms the strength of our Global Trade and Receivables Finance (GTRF) franchise in Australia

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For years, the Australian economy has been boosted by its involvement in global trade flows. This is also the case for HSBC, where trade has been the cornerstone of our history and remains so today.

Newly-released industry research from East & Partners has recognised HSBC as the top international trade bank in Australia. According to the findings, HSBC increased both market and mind share in 2016 against the backdrop of mooted global trade activity.

Trade market share on the rise

Among institutional clients in Australia, HSBC increased its primary trade finance market share strongly to 16.2% (up 15.8% last year), gaining further ground and bringing HSBC’s ranking to second behind ANZ.

The bank also saw market share growth in the corporate sector. HSBC now ranks third overall, behind ANZ and NAB, with 16.9% market share (up from 16.5% in 2015). Furthermore, one in four corporate-sized importers and exporters selected HSBC as their secondary trade finance provider (23.9%), positioning the bank as the largest secondary trade finance provider ahead of ANZ (20.4%).

Rohit Garg, Head of Global Trade and Receivables Finance in Australia believes that Australia’s more prominent role in international trade has meant local importers and exporters – big and small – are increasingly seeking the support and network access they can get from a global bank like HSBC.

Rohit also believes the customer-centricity of the GTRF proposition has been crucial. “It’s pleasing to see that our corporate and institutional clients continue to value HSBC for the strength of our e-trade solutions, global footprint, customer service and letters of credit. Importantly, the results clearly demonstrate that clients view HSBC as a trusted adviser, with institutional clients rating our trade finance advice as the best in class.”

HSBC is top of mind

HSBC stands out in trade finance mind share, with the bank ranking first among corporate and institutional clients in Australia, according to the research.

When it comes to institutional and corporate clients’ first name brand recall, HSBC achieved record high mind share of 30.3% and 27.9% respectively.

Rohit said: “HSBC’s upward trajectory is testament to years of commitment from the team and investment into building out the GTRF business. Indeed, the findings reveal that institutional trade finance mind share has more than tripled since 2004.”

The future of trade

With a number of milestone trade pacts already sealed including one with China – Australia’s largest two-way trading partner – and the mega-regional Trans Pacific Partnership expected over the coming years, Rohit believes Australia is only now “just starting to scratch the surface of trade opportunities.”

“Australia is situated in one of the world’s most dynamic trade regions, and the network of trade pacts that connect Australia to the rest of the world are increasing. Whether it’s supply chain finance, working capital solutions or access to our vast network, it’s clear from the results that HSBC is becoming an increasingly relevant trade finance bank in the Australian market.”

Against the backdrop of growing global connections, Rohit believes HSBC’s trade prospects are bright in Australia. “I am confident we will gain further market and mind share in Australia for years to come. We are focusing on building out our capabilities within receivables finance, supply chain finance and commodities and structured trade finance, as well as enhancing our digital capabilities within trade,” he said.

Issued by HSBC Bank Australia Limited ABN 48 006 434 162 AFSL 232595. This information does not take into account your objectives, financial situation or needs. The information in this document has not been independently verified by HSBC. No reliance should be placed on, any projections, estimates, forecasts or targets contained herein. East and Partners is an independent Australian Research Company. HSBC is a subscriber of East and Partner's publications and research.

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