HSBC win three top awards from Euromoney

The awards were announced at a dinner held in Doha on 7 June 2006.

The Euromoney Awards for Excellence continue to be the most respected global awards for banking excellence and are granted based on submissions to Euromoney by various banks in the region, highlighting each bank's product capability, mandates won, total deals, volumes and transactions and cash management strategy.

These awards confirmed HSBC's leading position as a top provider of Corporate, Investment Banking and Markets business in the fast-growing Middle East market. HSBC was the most active adviser in 2005 holding both the largest number of mandates and those with the greatest value. The bank also dominated the mandated lead arranger field in the Middle East region.

"We are delighted to have been ranked the Best Investment Bank in the Middle East. This award is a testimony to our success in being at the forefront strengthening our regional capabilities and leveraging the HSBC Group's international expertise. We remain firmly committed to expanding our business and our product capabilities. We have won a number of important new mandates and improved our position in various league tables, particularly for international bond issuance,"

said Antoine Cahuzac, Chief Executive Officer, Global Banking MENA.

In Saudi Arabia, HSBC strengthened its presence in the Saudi market with the establishment of an investment banking subsidiary, HSBC Saudi Arabia Limited, in partnership with HSBC's commercial banking affiliate in the Kingdom, SABB. HSBC Saudi Arabiawas the first full-service investment bank to be licensed by the Capital Market Authority in Saudi Arabia. The bank was the financial advisor and lead manager for IPO's raising US$ 1 billion of the total US$ 1.8 billion raised in the Saudi market last year. HSBC Saudi Arabia also continues to be one of the leading advisors and arrangers for corporate and project debt and the leading domestic equity fund manager in the Kingdom.

Timothy Gray, Chief Executive Officer of HSBC Saudi Arabia Limited commented: "It is a great tribute to receive such a prestigious award in our first year of operation. We believe the Saudi market is a promising one for the investment banking products and services of HSBC."

HSBC's Global Transaction business took the award for the Best for Cash Management in the Middle East for the third time and for the second successive year. Through its extensive network in the region, uniform product capability and wealth of experience in structuring award winning solutions, HSBC has become valued advisor to diverse range of banks, corporates and non-bank financial customers in the region.

Chris Lewis, Regional Head of Transaction Banking for HSBC Bank Middle East Limited, welcomed these latest accolades: "We are delighted and honoured to receive the Best Cash Management awards which recognizes HSBC's continuing leadership in the Middle East. Over the past years, we have made a significant commitment to developing our cash management capabilities in the Middle East and have expanded our services to countries like Iraq and Kuwait. As a result, and supported by our market-leading suite of cash management products, 2005-2006 saw a significant increase in revenues over the previous year. Apart from the regional coverage and our product capability, HSBC has a unique capability to cater from small and medium to large multinational companies and implement simple payment solutions to complex host to host system infrastructure. All our customers enjoy the benefits of HSBC's Middle East knowledge combined with the international cash management expertise of the Group."