Islamic finance awards 2012: Best international Islamic bank
HSBC Amanah continues to be the dominant global Islamic finance institution, providing wholesale, commercial and retail Islamic banking across Asia, the Middle East and Europe.
The bank’s revenue grew 19% in the first 10 months of 2011, with assets up 11% and operating profits up 8% on the same period in 2010. Global Islamic retail deposits were up 18% during this period and HSBC Amanah retail banking now serves more than 1 million customers.
The firm has been behind some of the most important and innovative deals of the year, including the HSBC Middle East sukuk, a deal whose structure has been replicated by other banks. This sukuk wins Euromoney’s most innovative Islamic finance deal award. HSBC was also instrumental in the Axis financing in Indonesia, which wins the Islamic finance deal of the year award.
HSBC Amanah is one of the top bookrunners in the sukuk market, being involved in most of the main dollar-denominated sukuks of the year, while also gaining leadership over rival international firms in Malaysian ringgit and Saudi riyal deals.