HSBC named best cash manager

  • Business
  • Friday, 13 Jun 2003

HSBC Malaysia Bhd, a wholly owned subsidiary of the HSBC Group, was named best cash management bank for Malaysia in the Asiamoney 2003 Cash Management Poll announced recently. 

HSBC came out tops in three of four customer categories in Malaysia, namely the annual turnover below US$10mil, US$10mil-US$100mil and US$100mil-US$500mil and the turnover exceeding US$500mil. 

Across Asia, HSBC swept the top ranking for all categories in China and Hong Kong while winning in at least one category in India, Indonesia, Japan, the Philippines, Singapore, Taiwan and Thailand. Overall, HSBC recorded a total of 22 category wins, it said in a statement. 

This achievement was attributed primarily to HSBC's innovation in cash management solutions, cross-border liquidity solutions or overlay solutions, timeliness, accuracy and efficiency, Internet banking services and outsourcing capabilities. 

The poll ranks Asia's leading providers in 12 key markets which includes Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand. 

In Malaysia, HSBC controls the largest electronic banking customer base with 1,600 corporate customers. – Bernama 

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