Muscat: HSBC Bank Oman has launched a dedicated Business Banking service to better connect Oman’s most dynamic and internationally-oriented businesses to the global economy.
“Businesses with the most entrepreneurial mindsets have set their sights on expanding globally and they play a growing role in Oman’s economy,” said Andrew Long, CEO of HSBC Bank Oman.
“HSBC Bank Oman supports the aspirations of companies with proven business models and ambitious expansion plans. We will help the best of them achieve their goals by combining our deep understanding of the local market with the global HSBC network through this new, dedicated service,” Andrew added.
HSBC Business Banking is for companies, which have proven models and which need specific expertise to support cross-border trading requirements and grow internationally.
These firms include the upper end of the small and medium-sized enterprise (SME) segment that contributes about 15 per cent of Oman’s GDP, a figure the Public Authority for the Development of SMEs (Riyada) has forecast to double in the medium term.
Dan Howlett, regional head of Commercial Banking, HSBC Middle East, North Africa and Turkey, said, “We have redesigned our business to focus on the key growth areas of the economy, in line with government priorities. Our new Business Banking proposition is a mark of our confidence in the long-term strategic potential of the region’s ambitious economic transformation plans and the businesses helping shape the future.”
HSBC Business Banking will be available to existing and new customers through three clearly defined solutions: Business Banking Standard; Business Banking Elevate; and Business Banking Vantage.
All three offer a dedicated Relationship Management service and transparent pricing – tiered by the solution. Businesses will benefit from HSBC’s world-leading digital channels to manage accounts globally, facilitate trade and process payments internationally. Customers will also have access to thought-leadership content, networking events and the HSBC Trade Academy.
Businesses which opt-in to the Elevate and Vantage solutions will also have access to HSBC Premier personal banking status.
Nasr Al Asfoor, head of Business Banking for HSBC Oman, said, “Central to our Business Banking proposition is the award-winning HSBC net platform. Our digital solutions enable our clients to manage their businesses more effectively, allowing them to focus their resources on the more strategic aspects of their business.”