HSBC has been named as the Best Investment Bank in Egypt at the 2021 Euromoney Middle East Awards for Excellence. The bank collected a total of five awards, including the Middle East's Best Bank for Sustainable Finance and the Middle East's Best Bank for Transaction Services. It was also named the Best Investment Bank in Kuwait and Oman. HSBC has affirmed its position as Egypt's leading investment bank by executing large and complex deals. It has also supported the country's transformation agenda, and helped the Egyptian Government secure access to debt capital markets against the backdrop of a volatile global economy. Todd Wilcox, HSBC Egypt Deputy Chairperson and CEO, said, "HSBC has been present in Egypt for almost 40 years, supporting the economic development of the country, and in a year of uncertainty, our quick response to the crisis ensured we were able to help our clients navigate market volatility and emerge in a more sustainable position." "This award reflects the bank's purpose, opening up a world of opportunity, and our central role in helping the Egyptian economy weather the impact of the novel coronavirus (COVID-19O pandemic," he added. The bank has built on Egypt's economic strategy of becoming a more sustainable economy and leveraging its global footprint, market leading debt capital markets franchise, and strong commitment to the sustainability agenda. As part of this, HSBC has played a key role in helping the Ministry of Finance issue the region's first sovereign green bond, a $750m deal that was successfully issued in September 2020. HSBC has also acted as Joint Lead Manager on the government of Egypt's two sovereign bonds in February 2021 and May 2020, which achieved the largest ever order book for Egypt and by an African sovereign. Helmy Ghazi, HSBC Egypt Managing Director and Head of Global Banking, said, "We are honoured to be able to work so closely with the government of Egypt and the private sector to help create a stronger economy for Egypt's future." "We are also proud to be playing an active role in supporting the government's ambitions to encourage greater participation of the private sector in the economy and attract more foreign direct investment," he noted, "The award reflects HSBC's ability to meet the complex needs of Multinational corporations and Egyptian Government-related entities through a myriad of financial." HSBC is prioritising financing and investment that supports the transition to a net zero global economy, citing a landmark opportunity to build a thriving, resilient future for society and businesses. In 2020, HSBC saw a six-fold increase in its sustainable and transition finance activity in the Middle East, North Africa, and Turkey (MENAT) region over 2019, with the bank bringing a number of innovative deals to market. The bank has committed to align its financed emissions, the carbon emissions of its portfolio of customers, to the Paris Agreement goal to achieve net zero by 2050 or sooner. To support customers in their transition to lower carbon emissions, HSBC is aiming to provide up to $1trn of financing and investment globally by 2030. The bank also aims to be net zero in its operations and supply chain by 2030.
