HSBC Malta has officially launched a €250 million International Business Fund with the scope of connecting local businesses to opportunities overseas.
“I firmly believe that considering Malta’s size, businesses must look beyond the island’s shores for further growth opportunities,” said HSBC Malta CEO Andrew Beane when addressing Thursday evening’s event to launch the fund.
The event took place at the picturesque Sheer Bastion in Senglea, overlooking the refurbished ‘Dock 1’.
Executive Director and Head of Business Development Michel Cordina shed further light on the initiative, explaining that it will enable investors, traders and businesses to embark on new journeys by connecting them to international opportunities.
“With offices on the ground in 53 countries and territories, and more than 5,000 relationship managers operating worldwide, HSBC is in a unique position to connect potential customers in new markets, provide local insight through our people on the ground, and offer financial support for businesses in Malta to expand globally,” he said while addressing the event.
Mr Cordina added that that the fund is also going to be made available to assist international businesses who wish to invest in Malta, “to continue assisting the local economy to grow”.
He highlighted how HSBC as a group has around 235,000 employees globally, practically the entire workforce of Malta, adding that such global reach should be harnessed to help businesses grow internationally.
HSBC has a global reach of around 1.5 million business customers, and even facilitated some $740 billion in international trade for the year 2018.
The newly appointed Head of Commercial Banking for HSBC Malta said that she is “delighted that we [HSBC] are launching this fund as I take up leadership of HSBC’s Commercial Banking operations.”
She discussed how previously, the focus of the bank was risk management however now it is looking forward to concentrating on fostering growth and success.